According to Automotive News Europe, an Infineon executive said it expects shortages in its core products to end next year, with conditions improving over the summer.
"I assume that we will be able to cover demand well in 2023," the head of Infineon's automotive unit, Peter Schiefer, told Automobile News Europe sister publication Automobilwoche. "The last issues will be resolved in 2023."
To meet growing demand, Infineon plans to expand its production capacity, including investment in a $1.8 billion semiconductor factory in Villach, Austria, which opened last year, the report said.
Automotive News Europe also pointed out that the global chip shortage hit the auto industry hard last year and halted vehicle manufacturing across regions. Automakers including Volkswagen and Stellantis are hoping the supply-chain snarls will gradually ease this year but have warned chip supply will remain tight in the first half.