IFNNY - Infineon says global chip shortage will cost 2.5M production vehicles by June

German semiconductor company Infineon (IFNNY) reported second quarter results early this morning and warned that the ongoing global chip shortage will cost automakers 2.5M vehicles in the first half of 2021."The semiconductor market is booming; electronics that help accelerate the energy transition and make work and home life easier remain in high demand. The push for digitalization continues unabated. Infineon is firmly on course to meet its targets for the current fiscal year," says CEO Dr. Reinhard Ploss. "Demand greatly exceeds supply for the majority of applications. Infineon's manufacturing facilities are running at full speed and we continue to invest in additional capacity. We see bottlenecks in those segments where we depend on chips supplied by foundries, especially in the case of automotive microcontrollers and IoT products. We are doing everything we can to provide our customers with the best possible support in this situation."During an analyst call, CMO Helmut

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Infineon says global chip shortage will cost 2.5M production vehicles by June