In response to the current global semiconductor shortage, Volkswagen has called on European governments to allocate more capital towards boosting the chip manufacturing sector.
According to Markus Duesmann, the Volkswagen board member in charge of research & development and head of luxury unit Audi, the German vehicle manufacturer will not be producing chips of its own. Rather, the corporation is calling on Europe to nurture existing chipmakers so that they remain on par with competitors from Asia and the United States.
“Ultimately technology is decisive for the success of the group,” Duesmann declared, as he went on to explain how the company would like to see Europe become a leader in the development of future technologies such as chips and software.
In order to realize Volkswagen’s vision, Duesmann recommended the development of funding programs to boost Europe’s battery cell technology. This initiative would form part of an existing scheme called the Important Project of Common European Interest (IPCEI).
European leaders are already looking into boosting the production of chips, with Germany announcing on Wednesday that several European countries had agreed to support the local production of technology such as processors and semiconductors. Aid in this regard is expected to be as much as 50 billion euros ($60 billion).
