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Volkswagen AG (0P6O.IL)

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  • Bloomberg

    Stray Balloon Triggers Chip-Making Outages at German Plants

    (Bloomberg) -- Infineon Technologies AG and Robert Bosch GmbH were forced to halt key chip factories in Germany after a power failure, potentially exacerbating a global semiconductor supply crunch.The city of Dresden suffered a large-scale power disruption for 20 minutes from around 2 p.m. on Monday, shutting down Infineon’s factory there until Tuesday evening, a spokesperson said. While Bosch managed to restart operations by late afternoon on Monday, the company said it’s still assessing the da

  • Reuters

    Four former VW employees go on trial in Dieselgate lawsuit

    Four former employees of carmaker Volkswagen went on trial on Thursday over the Dieselgate scandal in which illegal software was used to cheat emission tests. The trial, being held in the city of Braunschweig, close to Volkswagen's headquarters in Wolfsburg, started without former CEO Martin Winterkorn, whose separate trial will take place at a later date. The four employees, who are accused of fraud, had been aware of the illegal software but failed to raise the issue, instead seeking to maximise profits for the carmaker and, as a result, their performance bonuses, Braunschweig prosecutors said.

  • Reuters

    VW's SEAT to extend assembly curbs in Spain into 2022 on chip shortage

    Volkswagen's Spanish unit SEAT plans to extend partial car assembly suspensions at its plants near Barcelona well into 2022 because of global semiconductor supply bottlenecks, the company said in a statement. "The deterioration in the supply of semiconductors now requires reorganizing, planning and adopting new labour protocols," SEAT said, adding it had started negotiating a furlough plan with local unions to cancel some working shifts between Sept. 27 and June 30, 2022. The chip supply disruptions come as demand for the SEAT and CUPRA brands is back at pre-pandemic levels, Xavier Ros, the company's vice president for human resources, said.