The semiconductor crisis will continue until next year,

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Fully securing the demand for semiconductors through the existing market supply is unlikely until 2024, Volkswagen chief financial officer Arno Antlitz said on Saturday in an interview with the German daily Boersen-Zeitung, quoted by Reuters and News.ro.

He said that while blockages are likely to begin to ease towards the end of this year, with production set to return to 2019 levels next year, this will not be enough to meet increased demand for chips.

“The structural supply, which is in demand, will probably not be resolved until 2024,” Antlitz said.

The lack of wiring in Ukraine has also caused the cancellation of work shifts, Antlitz said, even as the company establishes new relationships with suppliers to procure those components from other countries.

Asked how Porsche AG’s possible initial public offering (IPO) funds planned for the end of the year could be used to support Volkswagen’s finances, Antlitz said the money could help fund the software unit. the car manufacturer and its battery production plans.

“Only those who can build their own battery supply chain have the advantage of increasing their electromobility. Securing the supply chain comes with that. A Porsche IPO could give us a lot more flexibility in financing this, “said Antlitz.