By David Sachs

Volkswagen Group has developed a new prOcurementStrategy for semiconductors and electronics as it aims to secure the long-term supply of parts crucial to electric-vehicle production and digitization, it said Thursday.

The German car maker said it will source especially crucial semiconductors directly from manufacturers, and that it created a semiconductor sourcing committee.

"A high degree of transparency in the semiconductor value chain--the exact knowledge of the parts used--enables us to better determine the global demand and availability of these components," Volkswagen said. "This is underscored by risk management which, in future, will extend to the level of individual electronic parts and help us detect bottlenecks early on and avoid them."

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

August 24, 2023 03:10 ET (07:10 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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