German auto makers can't build hundreds of thousands of cars due to chip shortages - Altmaier - Reuters

By Reuters Staff

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FILE PHOTO: A worker wears a protective mask at the Volkswagen assembly line after VW re-starts Europe's largest car factory after coronavirus shutdown in Wolfsburg, Germany, April 27, 2020, as the spread of the coronavirus disease (COVID-19) continues. Swen Pfoertner/Pool via REUTERS

BERLIN (Reuters) - German automobile manufacturers are currently not able to build hundreds of thousands of cars due to a lack of semiconductors and other electronic components, Economy Minister Peter Altmaier said on Wednesday.

Presenting the government’s revised growth outlook, Altmaier said the government was ready to support the construction of local chip factories with several billion euros and that he was hopefull that the state subsidies would mobilize even higher investments by companies.

Reporting by Michael Nienaber; Editing by Riham Alkousaa

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