World-wide microchip shortage will fester into 2024, VW CFO states

World-wide microchip shortage will fester into 2024, VW CFO states

April 15, 2022 Off By iwano@_84

Automakers are dealing with the double problem of the microchip lack and disruption of wire cable harnesses made in Ukraine caused by Russia’s invasion of the state.

Antlitz stated personal VW Team plants are regularly forced to cancel shifts mainly because the automaker’s supplier in the Ukraine is only running on a single-shift basis.

“We have set up a disaster team and, in some scenarios, also shifted volumes to other production amenities of the same suppliers. However, the option destinations are not supposed to swap the output internet sites in Ukraine in the lengthy time period. We stand by our current provider web-sites in Ukraine and deliver support exactly where we can,” Antlitz said.

Looming energy crisis

Questioned about rising electricity fees and the probability of a ban of imports into Germany of Russian pure fuel, Anlitz explained the automaker has not nonetheless made the decision when to employ its system to transform power plant operations in Wolfsburg from coal to normal fuel.

“We have not switched about nevertheless. But we are presently in the procedure of switching over. At the second, the coal-fired energy plant is however running when the gasoline-fired power plant is ramping up. We are looking at very carefully what takes place in the next couple of times and months. At the minute, we haven’t determined when we will at last shut down the coal-fired electric power plant.”

Antlitz also reiterated programs for a feasible IPO of VW Group’s Porsche’s sporting activities-automobile subsidiary.

“There has been a ton of speculation there not too long ago about the timing, but we are nevertheless aiming for an IPO in the closing quarter,” he claimed.

Reuters contributed to this report