VW expects microchip shortage to last until 2024

Automakers are dealing with the double problem of the microchip shortage and disruption of wire cable harnesses created in Ukraine prompted by Russia’s invasion of the country.

Antlitz reported unique VW Group vegetation are continually pressured to terminate shifts simply because the automaker’s provider in the Ukraine is only functioning on a single-change basis.

“We have set up a disaster team and, in some instances, also shifted volumes to other manufacturing services of the similar suppliers. However, the alternate locations are not supposed to replace the output web sites in Ukraine in the prolonged term. We stand by our present supplier websites in Ukraine and deliver aid in which we can,” Antlitz explained.

Looming electricity disaster

Questioned about climbing electrical power expenditures and the chance of a ban of imports into Germany of Russian normal gas, Anlitz explained the automaker has not nevertheless decided when to carry out its plan to transform energy plant operations in Wolfsburg from coal to purely natural gas.

“We haven’t switched around nevertheless. But we are presently in the process of switching above. At the moment, the coal-fired ability plant is nevertheless jogging although the fuel-fired electrical power plant is ramping up. We are viewing very carefully what happens in the next couple days and weeks. At the minute, we have not resolved when we will lastly shut down the coal-fired ability plant.”

Antlitz also reiterated strategies for a achievable IPO of VW Group’s Porsche’s sports-auto subsidiary.

“There has been a great deal of speculation there recently about the timing, but we are however aiming for an IPO in the closing quarter,” he reported.

Reuters contributed to this report