According to CEO Oliver Blume, Volkswagen (VWAGY) Group has secured a sufficient supply of chips, Reuters reports, citing comments made by the CEO to Bild am Sonntag, a German newspaper. “The current chip crisis shows how fragile our world is. Unlike the last semiconductor crisis, this one involves very simple chips that are used across industries and especially in cars… In the short-term, we are provided for in the Volkswagen Group. We need a swift political solution.” Blume said, according to Reuters.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VWAGY:
- Automakers look to secure rare earths before China export controls, Reuters say
- White House poised to ease tariffs on auto industry, Bloomberg reports
- Volkswagen price target lowered to EUR 110 from EUR 120 at Deutsche Bank
- Why Tesla’s (TSLA) New Lower-Cost Models Might Struggle in Europe
- Trump Trade: Trump administration discusses taking stake in Critical Metals