According to the consulting firm, AlixPartners, the shortage of semiconductor chip is expected to cost $210 billion to the global automotive industry in revenue in 2021.

The estimation is almost double from the previous forecast of $110 billion in May. In late January, the New York based firm released an initial forecast of $60.6 billion when the parts issue started causing automakers to cut production at plants.

In a statement, the global co-leader of the automotive and industrial practice at AlixPartners, Mark Wakefield said, “Of course, everyone had hoped that the chip crisis would have abated more by now, but unfortunate events such as the COVID-19 lockdowns in Malaysia and continued problems elsewhere have exacerbated things.”