Daimler CEO Hopes to Stabilize Supply Chain This Quarter

Daimler CEO Hopes to Stabilize Supply Chain This Quarter
Ola Kaellenius, chairman of Daimler AG, attends the presentation of the new Mercedes-Benz S-Class at the Daimler production plant in Sindelfingen near Stuttgart, Germany on Sept. 2, 2020. Ralph Orlowski/Reuters
Reuters
Updated:

DETROIT—Daimler AG Chief Executive Ola Kaellenius told Reuters on Friday the automaker hopes to stabilize its supply chain for semiconductors during this quarter, but expects real relief from shortages of chips will not arrive until 2023.

Kaellenius, who is visiting Mercedes operations in the United States, said production of Mercedes vehicles during the fourth quarter will be lower than a year ago, which was an unusually strong quarter as the company began recovering from pandemic shutdowns.