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6/27, 11:20 PM (Source: TeleTrader)
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VW to resume car output in Mexico after chip shortage

Volkswagen AG announced on Sunday its Mexican unit will resume car production next week after it was hit by the global shortage of semiconductor chips.

"Volkswagen de Mexico is preparing a return to activities for its three manufacturing segments," the carmaker said, noting the chip supply will likely stabilize in the second half of the year. However, it argued that "possible future production adjustments cannot be ruled out."

Auto manufacturers worldwide have been hit by chip shortages, prompting companies to temporarily suspend or slow down production due to supply issues and governments to announce investments towards increasing the supply.

Breaking the News / ND