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Tesla’s Musk says new chip plants should make shortage short term

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TURIN, Sept 24 (Reuters) – Tesla Inc (TSLA.O) CEO Elon Musk stated on Friday that because of new semiconductor plants which can be deliberate or below building, the worldwide chip shortage that has pummelled the automotive business this yr should be short term in nature.

“There’s a lot of chip fabrication plants that are being built,” Musk stated throughout a joint session with John Elkann, the scion of Italy’s Agnelli household at Italian Tech Week. “I think we will have good capacity for providing chips by next year.”

Reporting by Giulio Piovaccari, Writing By Nick Carey

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