The supply of critical semiconductors is expected to remain tight until the end of next year, the boss of Fiat carmaker Stellantis said today.

Speaking to French newspaper Le Parisien, Carlos Tavaresn said: “The situation will remain very complicated until the end of 2023, then will ease a little.

“Semiconductor manufacturers have an interest in making business with us again, especially as they’re raising prices.”

Semiconductors, or computer chips, are used in most of today’s technology.

Pandemic restrictions paired with a boom in demand for consumer electronics has weighed heavily on the computer chip supply chain over the past couple of years.

Several automotive companies were forced to dial back their production forecasts last year in response to the acute shortage of computer chips.

Shortages are now easing, however, car companies have shouldered the cost of scrapping production for millions of cars.