Elon Musk has claimed that the ongoing chip shortage will be solved by next year. The Covid-19 pandemic has resulted in an increased demand for many computers and electronics that the manufacturing supply chain couldn't handle.
"There's a lot of chip fabrication plants that are being built and I think we will have good capacity by next year," Musk said.
The semiconductor industry was mostly hit and could not fulfill the market needs. The shortage of this microchip affected the automotive industry which is a big consumer of microchips.
The chip shortage is affecting electric vehicle production and several automakers had to halt production until chip supply is restored.
Pat Gelsinger, CEO of Intel recently said that the restoration process could take a "couple of years". A few months ago Musk confirmed that it is affecting Tesla, but he believes it's not a "long-term issue". Tesla is currently facing the issue of microcontroller chips. Various other industry leaders see the issue lasting up to 2023.