Oliver Blume, the CEO of Volkswagen, claims that the group has enough chips to meet current demands, despite the ban imposed by China on Nexperia, which affects the European automotive industry.
Raluca Ioana Draghici
Economy
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Oliver Blume, the CEO of Volkswagen, stated that the group has enough chips for the moment, despite the challenges posed by the Chinese ban on Nexperia, a semiconductor manufacturer. This ban was imposed in response to the control of the authorities in the Netherlands over Nexperia, which could exacerbate the problems in the European automotive sector, already affected by U.S. tariffs and restrictions on rare earth exports from China. Blume emphasized the fragility of the current chip crisis, which affects simple chips used in various industries, including automobiles. He also mentioned that Porsche, the company he leads and which is facing a decline in sales in China, reported a significant operational loss. Blume will hand over the CEO position of Porsche to Michael Leiters in 2026, acknowledging that managing two car brands is too great a challenge for one person.
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