Volkswagen Says Chip Shortage Will Likely Extend to 2023

A new Volkswagen ID.3 electric car in a fully automatic high-bay-rack for delivery by the German automaker at the "Autostadt" in Wolfsburg, Germany, on Sept. 11, 2020. Annegret Hilse/Reuters

German vehicle manufacturer Volkswagen has said it does not anticipate chip shortages ending in 2023 and is instead gearing up for a “new normal” of supply-chain disruptions.

Murat Aksel, head of procurement on the Volkswagen board, gave the bleak outlook in an interview with the German weekly Automobilwoche.