Stellantis, the carmaker behind Fiat and Peugeot, has enjoyed a boost to revenue in the past few months as a shortage of computer chips crucial to tech-assisted cars eases.
Revenues rose by nearly a third to €42.1bn (£36.4bn) in the three months to September. The group’s sales of battery electric vehicles jumped more than 40 per cent in the period, to a total of 68,000 units.
The boss of the firm warned at the beginning of last month that the global shortage of chips, also known as semiconductors, would remain “very complicated” until the beginning of next year.
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.”
However, supply constraints appear to have eased earlier than expected.
Chips, used in most of today’s electronics, are a key component in electric cars.
Pandemic restrictions paired with a boom in demand for consumer electronics has weighed heavily on the 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.
Shortages are now easing, however, many car companies have shouldered the cost of scrapping production for millions of cars.
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