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Elon Musk says the lack of chips is only “short-term” | The Guardian Nigeria News

Tesla CEO Elon Musk said on Friday that a global semiconductor shortage, which hits car companies particularly hard, will soon be overcome.

The chip drought is “short-term, I think,” said the billionaire during a video appearance at Italian Tech Week in Turin.

“A lot of chip factories are being built,” Musk told the audience of startups, mutual funds, and tech entrepreneurs.

“I think we will have good chip supply capacities next year. I hope so, of course, but it looks like it. “

A boom in electric vehicle sales and renewed activity following the lifting of coronavirus restrictions in many advanced economies have boosted demand for auto parts.

But the auto industry is clashing with other sectors that require large amounts of semiconductors as inputs, including computers, smartphones, and smart devices.

Tesla has so far overcome the chip shortage by switching to other designs and rewriting the appropriate software.

In the second quarter, the automaker delivered a record number of vehicles, exceeding a net profit of $ 1 billion for the first time.

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