CHIP* UNDERSUPPLY CHART : 2024

Chip undersupply to last until 2024. VW CFO says few bottlenecks will begin to ease towards the end of 2022.

Semiconductor chip supply is unlikely to be enough to completely demand again until 2024, Volkswagen Chief Financial Officer [CFO] Arno Antilz said in an interview with German daily Boersen-Zeitung on Saturday.

He said although bottlenecks would likely begin to ease towards the end of this year, with production returning to 2019 levels next year, this would not be enough to meet heightened demand for the chips.

''The structural undersupply will likely only resolve itself in 2024,'' Antilitz said.

A lack of wire harnesses from Ukraine was also still causing some shits to be cancelled, Antlitz said, even as the company was establishing new supplier relationships to source the component from other countries.

Asked about how funds from a possible IPO of Porsche AG, planned for the end of the year, could be used to bolster Volkswagen finances, Antlitz said the money could help fund the carmaker's software unit and its battery production plans.

''Only those who can make out their battery supply chain have the advantage at scaling in electromobility. Securing the supply chain comes with that.

A Porsche IPO could give us a lot more flexibility in financing this,'' Antlitz said. [Reuters]