Semiconductor chip provide is unlikely to be sufficient to fully fulfill demand once more till 2024, Volkswagen Chief Financial Officer (CFO) Arno Antlitz stated in an interview
Semiconductor chip provide is unlikely to be sufficient to fully fulfill demand once more till 2024, Volkswagen Chief Financial Officer (CFO) Arno Antlitz stated in an interview with German every day Boersen-Zeitung on Saturday.
He stated that though bottlenecks would doubtless start to ease in the direction of the top of this 12 months, with manufacturing returning to 2019 ranges subsequent 12 months, this might not be sufficient to satisfy heightened demand for the chips.
“The structural undersupply will likely only resolve itself in 2024,” Antlitz stated.
A scarcity of wire harnesses from Ukraine was additionally nonetheless inflicting some shifts to be cancelled, Antlitz stated, whilst the corporate was establishing new provider relationships to supply the part from different nations.
Asked about how funds from a doable IPO of Porsche AG, deliberate for the top of the 12 months, may very well be used to bolster Volkswagen’s funds, Antlitz stated the cash may assist fund the carmaker’s software program unit and its battery manufacturing plans.
“Only those who can map out their battery supply chain have the advantage at scaling in electromobility. Securing the supply chain comes with that. A Porsche IPO could give us a lot more flexibility in financing this,” Antlitz stated.
(Reporting by Victoria Waldersee; enhancing by Jason Neely)
(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)