EconomyFinancialBreaking News: Volkswagen to develop new semiconductor with STMicro...

Breaking News: Volkswagen to develop new semiconductor with STMicro amid chip shortage

German carmaker Volkswagen and Franco-Italian chipmaker STMicroelectronics will jointly develop a new semiconductor, amid global chip shortages that have strained the industry’s supply chain, the companies said on Wednesday.

Volkswagen software subsidiary Cariad and STMicro will jointly design the new chip, which will be part of the Stellar family of semiconductors, the companies said.

Both companies are “moving to agree” on Taiwan Semiconductor Manufacturing Company (TSMC) to make it, according to the statement.

Initially hit by Covid-19 like the economy as a whole, the car market was later slowed down in Europe and America by a series of logistical problems, such as the shortage of semiconductors.

These electronic chips, manufactured mainly in Asia, are essential for the manufacture of telephones and computers, but also for vehicles that increasingly incorporate more technology.

If the supply of chips stabilized, the Association of European Automobile Manufacturers (ACEA) expected an increase in sales from the second half of 2022, although the war in Ukraine dampened optimism.

In Mexico, Volkswagen has operated since the beginning of the year, which caused the German brand to be surpassed by Toyota at the end of the first quarter, with 9.7% of total sales in the market, compared to 9.3% for Volkswagen.

The Volkswagen Group made a profit in the first quarter thanks to higher vehicle prices, however, global sales have continued to decline afterwards due to a lack of chips, new outbreaks of Covid-19 around the world and logistical bottlenecks. . The European leader fell 19.6% in May, with significant drops in its main brand, Skoda, Audi and Seat.

With information from Reuters and AFP

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