The supply of semiconductor chips is unlikely to be sufficient to fully satisfy demand again until 2024, Volkswagen’s chief financial officer (CFO) Arno Entlitz said in an interview.
Semiconductor chip supplies are unlikely to be sufficient to fully satisfy demand again until 2024, Volkswagen’s chief financial officer (CFO) Arno Entlitz said on Saturday in an interview with the German daily Börsen-Zeitung.
He added that although bottlenecks will start to ease by the end of this year, with production returning to 2019 levels next year, it will not be enough to meet the increased demand for chips.
“Structural undersupply will likely be resolved only in 2024,” Enlitz said.
Some changes are still being canceled due to a lack of wire harnesses from Ukraine, Enlitz said, even as the company was establishing new supplier relationships to source components from other countries.
Asked about how the funds from Porsche AG’s potential IPO planned for the end of the year could be used to bolster Volkswagen’s finances, Entlitz said the money was made in the carmaker’s software unit and its batteries. Can help fund production plans.
Entlitz said, “Only people who can map out their battery supply chain have the advantage of scaling up in electromobility. Securing the supply chain comes with it. A Porsche IPO could give us a lot of flexibility in financing it.” is.”
(Reporting by Victoria Waldersee; Editing by Jason Neely)
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