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Volkswagen indicates shortage of Chinese chips would hit profits

New EV models are offsetting a slump in demand but Europe’s carmakers are bracing for shutdownsVolkswagen has signalled that its annual profit targets are at risk without sufficient computer chips, in the latest sign that an expected shortage of semiconductors from China could hit carmakers across Europe.The struggling German automotive firm said a series of cost cuts and new model launches were helping to offset a slump in Chinese demand, but it added that forecasts were based on the “adequate availability of semiconductors”. Continue reading...

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