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CFO of Volkswagen: insufficient chip supply will last until 2024

Time of Release：

2022-07-25

According to Reuters, Arno Antlitz, Volkswagen's chief financial officer (CFO), said in an interview with German daily Boersen Zeitung on Saturday that the supply of semiconductor chips is unlikely to fully meet demand again before 2024.
He said that although the bottleneck may begin to ease at the end of this year and the output will return to the level of 2019 next year, it is not enough to meet the growing demand for chips.
"The structural supply shortage may not solve itself until 2024," Antlitz said.
Antlitz said that the lack of harnesses in Ukraine also led to the loss of some components, although the company is establishing new supplier relationships to purchase components from other countries.
When asked how the funds from Porsche's public offering planned for the end of this year would be used to support Volkswagen's finance, Antlitz said that the funds would help fund the software department of the automobile manufacturer and its battery production plan.
"Only those who can map out their battery supply chain can have an advantage in the scale of electric vehicles. Protection of the supply chain follows. Porsche's public offering allows us to have greater flexibility in financing," Antlitz said.

Nomura Securities: Semiconductor is worried about oversupply

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Nomura Securities: Semiconductor is worried about oversupply

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