Bosch CEO: Chip shortage is expected to ease in the second half of the year, and it is expected to return to normal in 2023.

According to reports, Bosch CEO Stefan Hartung said on Wednesday (9th) that it is expected that the problem of chip shortages is expected to ease significantly this year, and he expects related businesses to resume normal operations by 2023.

Bosch, the world’s largest supplier of automotive components, has slowed growth in its mobility solutions division, which also includes the main revenue generator for Bosch, due to a shortage of chips.

“Last year, we felt very clearly that there was not enough chips to meet demand,” Hartung said. “In 2022, things will get better, and it will be more pronounced in the second half of the year.”

Hartung also pointed out that even the equipment that makes chips needs chips to operate, so there will be a shortage of supply. The company expects to resume normal operations by 2023.

Bosch forecasts that 85 million cars will be produced in Europe this year, up from more than 80 million in 2021 but well below the 92 million in 2019 before the outbreak.

German semiconductor maker Infineon also estimated that the problem of chip shortages is expected to improve this summer and is expected to end next year.

Peter Schiefery, head of Infineon’s automotive division, said in an interview that he believes the company will be able to meet market demand in 2023, and the wafer shortage will be resolved in 2023.

In response to the shortage of chips, Intel CEO Pat Gelsinger, the US chip industry leader, said in a statement that the tight supply of chips will continue at least until the end of 2023, and the supply situation will not ease until 2025 to 2030. But that is expected to improve as Intel and its peers begin bringing more fabs online in the second half of the century.