Volkswagen executive sees global chip shortage running well in 2022

FILE PHOTO: Staff wear protective masks at the Volkswagen assembly line in Wolfsburg, Germany, April 27, 2020. Swen Pfoertner/Pool via REUTERS/File Photo/File Photo

DETROIT (Reuters) - Volkswagen AG's top Americas executive said on Tuesday the global chip shortage will run well into next year.

"Without a doubt, this shortage is going to go well into 2022, at least the second half of '22," Scott Keogh said on a panel at the Reuters Events Automotive Summit.

He added while the issue may ease in the fourth quarter of this year, the industry still cannot meet market demand.

(Reporting by Ben Klayman, Editing by Franklin Paul)