German car manufacturer Volkswagen may sue its suppliers Bosch and Continental for damages due to a lack of semiconductors that shut its assembly lines.
Volkswagen is reportedly in talks with alternative semiconductor suppliers but wants Bosch and Continental to share the burden and partly compensate the company for the resulting additional costs.
The chip problem is occurring worldwide, causing other automakers such as Ford, Subaru, Toyota, Nissan, and Fiat Chrysler Automobiles to shut assembly lines.
According to Volkswagen’s China head, Stephan Wollenstein, the shortage has affected them as early as December, when they lost 50,000 cars in production due to the chip problem.
Wollenstein said the chip shortage is mainly impacting models that are installed with its Electronic Stability Program, a system of sensors that keeps the wheels from seizing up after an unexpected swerve.
Other components may also be affected.
Germany has asked Taiwan to persuade its manufacturers to help ease the semiconductor chip shortage, which is hampering recovery from the COVID-19 pandemic.
German Economy Minister Peter Altmaier has asked his Taiwanese counterpart Wang Mei-hua to discuss the matter with the Taiwan Semiconductor Manufacturing Co Ltd., the world’s largest contract chipmaker and among Germany’s main suppliers.


OpenAI Tightens AI Safety Monitoring After Security Incidents
Google to Move All Pixel Production Out of China by 2027
Coty Revenue Beats Estimates as Beauty Demand Holds Firm
U.S. Public Debt Tops $40 Trillion for First Time
Asian Chip Stocks Plunge as Bond Yields Fuel AI Valuation Fears
Moody’s Affirms NVIDIA Aa1 Rating as AI Data Center Guarantees Reach $105 Billion
China Set to Hold Benchmark Lending Rates Steady for 15th Month
AstraZeneca Halts Phase III Volrustomig Lung Cancer Trial After Efficacy Setback
OpenAI Revenue Rises 18% in Q2 as Losses Widen and Anthropic Surges Ahead
Nordson Stock Rises as Q3 Earnings Beat Estimates, Outlook Raised
Alibaba Sells Lingxi Games for Over $1.5 Billion Amid AI Push
Lockheed Martin Secures $153.5 Million in U.S. Defense Contracts
Schott Pharma Stock Rises as Barclays Upgrades Rating on Growth Outlook
Standard Chartered Expands Hedge Fund Access for Wealth Clients
Hermès Stock Downgraded by RBC as Luxury Growth Premium Narrows
Oil Prices Rise as Trump Threatens Tougher Iran Economic Measures
Sun Pharma Wins U.S. Appeal in Pfizer Lipitor Antitrust Case 



