Luca de Meo, the recently appointed CEO of French carmaker Renault (RENA.PA), said a shortage in semiconductors and other rising costs are set to boost car prices, Spanish newspaper Expansion reported on Thursday.

"Prices will rise even more in the coming 12 months," he told the newspaper in an interview, as chip makers are taking advantage of the leverage scarcity is giving them.

Hanover, September 30, 2021. At its meeting today, the Supervisory Board of Continental AG approved further adjustments to the structure of the Continental Group with a focus on market developments and customer requirements. The Executive Board decided on the organizational changes in September 2021 in view of the transformation of the mobility industry.

While interest in electric vehicles (EVs) has grown over the last few years, the pandemic has supercharged uptake. According to recent research, 45% of UK drivers are reconsidering their plans for EVs due to the radical improvement in air pollution across the globe from reduced traffic. What’s more, 17% of consumers believe that the effects of lockdown on the environment have reaffirmed their decision to make the switch to an EV.