Chip undersupply to last until 2024, says Volkswagen CFO -Boersen-Zeitung
BERLIN (Reuters) – Semiconductor chip provide is unlikely to be sufficient to fully fulfill demand once more till 2024, Volkswagen Chief Monetary Officer (CFO) Arno Antlitz mentioned in an interview with German every day Boersen-Zeitung on Saturday.
He mentioned that though bottlenecks would doubtless start to ease in the direction of the tip of this yr, with manufacturing returning to 2019 ranges subsequent yr, this may not be sufficient to satisfy heightened demand for the chips.
“The structural undersupply will doubtless solely resolve itself in 2024,” Antlitz mentioned.
A scarcity of wire harnesses from Ukraine was additionally nonetheless inflicting some shifts to be cancelled, Antlitz mentioned, at the same time as the corporate was establishing new provider relationships to supply the element from different nations.
Requested about how funds from a attainable IPO of Porsche AG, deliberate for the tip of the yr, might be used to bolster Volkswagen’s funds, Antlitz mentioned the cash may assist fund the carmaker’s software program unit and its battery manufacturing plans.
“Solely those that can map out their battery provide chain have the benefit at scaling in electromobility. Securing the provision chain comes with that. A Porsche IPO may give us much more flexibility in financing this,” Antlitz mentioned.
(Reporting by Victoria Waldersee; enhancing by Jason Neely)
