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 day by day Boersen-Zeitung on Saturday.
He stated that though bottlenecks would seemingly start to ease in the direction of the tip of this 12 months, with manufacturing returning to 2019 ranges subsequent 12 months, this could not be sufficient to fulfill 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 canceled, Antlitz stated, at the same time as the corporate was establishing new provider relationships to supply the element from different nations.
Asked about how funds from a doable IPO of Porsche AG, deliberate for the tip of the 12 months, might be used to bolster Volkswagen’s funds, Antlitz stated the cash might 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)
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With inputs from NDTV
