Renesas Electronics Corp.’s top executive warned that a global shortage of auto semiconductors may persist into the second half, joining other industry leaders in bracing for a chip crunch to snarl production of cars and gadgets well past the summer.
Industry giants from Continental to Innolux Corp. have in recent weeks warned of longer-than-anticipated deficits thanks to unprecedented COVID-era demand for everything from cars to game consoles and smartphones. Renesas is running its most critical plants at full capacity to try and meet demand but there was no way of telling when the market might balance out, CEO Hidetoshi Shibata told Bloomberg News.
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