July 20, 2024

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Volvo CEO warns of ‘big risk’ in Q1 from chip shortage

STOCKHOLM — Volvo Automobiles has not experienced from the world semiconductor lack, but the automaker’s CEO mentioned risks linger from a dilemma that has now forced several automakers to temporarily minimize generation.

CEO Hakan Samuelsson mentioned Volvo’s semiconductor provide has been secured for the following four weeks.

“So, short-time period no disturbance … But there is of system a huge danger that it could arrive listed here during the first quarter. But it is extremely challenging to forecast,” Samuelsson told Reuters.

Talks on a prospective merger with sister enterprise Geely Auto are however on hold as Geely functions to record its shares on Shanghai’s New Star Marketplace, Samuelsson mentioned, adding he expected to arrive back again with additional particulars in the first quarter.