Volkswagen CEO Herbert Diess said he sees a “clear improvement” in semiconductor supply and expects the automaker’s global production to recover for the rest of this year.
Volkswagen AG chief executive Herbert Diess said he sees a “clear improvement” in semiconductor supply and expects the automaker’s global production to recover for the rest of this year.
Speaking on the sidelines of the World Economic Forum conference in Davos, Switzerland, Dias said disruptions to Volkswagen’s supply chain in Ukraine were also easing. Russia’s invasion of Ukraine temporarily halted production of wiring harnesses and other components used in Volkswagen vehicles.
“The situation with Ukraine is now under control if nothing really bad happens we will not lose a lot of cars,” Dias said.
Dice and other senior Volkswagen executives discussed a range of topics in the meeting with journalists.
Diess said Volkswagen plans to decide on a site this year to assemble its proposed Scout brand of electric trucks and SUVs in the United States. The company is assessing “brownfield sites and some greenfield locations”, he said, using existing manufacturing facilities and conditions for open areas where entirely new factories can be built.
Volkswagen Chief Financial Officer Arno Enlitz said the company is not ruling out a final stock listing for the Scout brand, but that it is too soon for now.
Diess and other officials said the Scout is part of a wider effort by Volkswagen to expand its presence in the United States market not only for passenger vehicles but also for commercial vehicles.
Entlitz said Volkswagen plans to spend 7 billion euros over the next five years to grow its US product line, which also includes electric pickup trucks.
Diess said he is confident Volkswagen can secure enough batteries to supply its electric vehicle production by 2025, but suggested that some rivals may fall short.
“Are there enough batteries? Probably not. Have we ordered as many batteries? Yes, definitely,” Dias said.
Stelantis chief executive Carlos Tavares warned yesterday that automakers could face a battery supply crisis by 2024-2025.
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