The global semiconductor chip shortage that is impacting the production of automobiles and consumer electronics will last until 2022 and possibly beyond, according to the CEO of semiconductor company Marvell Technology. “Right now, every single end market for semiconductors is up simultaneously; I’ve been in this industry 27 years, I’ve never seen that happen,” Marvell CEO Matt Murphy said during a CNBC Technology Executive Council event on Thursday. “If it stays business as usual, and everything’s up and to the right, this is going to be a very painful period, including in 2022 for the duration of the year.” While multiple chip producers, including Japanese chipmaker Renesas Electronics, Intel, and TSMC have all expressed plans to double down on manufacturing, Murphy noted “that’s not going to kick in until 2023 and 2024—so there’s this painful period.” Last month, consulting firm AlixPartners predicted the global semiconductor shortage will lead to 7.7 million fewer vehicles produced in …
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