Chips shortage situation tougher than expected in Q3, says Renault CEO

Renault CEO Luca De Meo. Credit: AFP Photo

Renault CEO Luca De Meo said on Monday that the situation regarding the global chips shortage was tougher than expected during the current third quarter, adding the next quarter should bring some improvement despite a poor visibility.

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In an interview with Reuters TV, De Meo said the French carmaker was sticking to its previous forecast for a cut to production of 200,000 cars in 2021 due to the shortage.