BMW (BMWG.DE) expects supply chains to remain tight well into 2022, Chief Executive Oliver Zipse said on Monday, squashing hopes that a painful shortage of crucial semiconductors will end soon.

BMW CEO

BMW CEO Oliver Zipse visits the BMW vaccination centre as the German car manufacturer starts to provide coronavirus disease (COVID-19) vaccinations for staff, in Munich, Germany, June 7, 2021. (REUTERS/Andreas Gebert / Reuters Photos)

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"I expect that the general tightness of the supply chains will continue in the next 6 to 12 months," he said at the IAA Munich car show.

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Zipse, who like other car executives is battling lower production due to a lack of semiconductors, said he saw no issues in the long-term, adding that the automotive industry was an attractive client for chipmakers.

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