VW CEO says 100,000 cars lost due to microchip shortage

FRANKFURT — Volkswagen Group was unable to build 100,000 cars due to an ongoing chip shortage that has hit the automotive sector this year, CEO Herbert Diess said, adding the group would not be able to make up for the shortfall in 2021.

Diess, speaking at VW’s annual press conference, said that the automaker would secure future chip supply via direct agreements with semiconductor suppliers, marking a strategic departure outlined earlier this year.