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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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
