• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Money Profit News
No Result
View All Result
Home Breaking News

Daimler Truck CEO says he’s more concerned about chips than Covid

by
November 12, 2021
in Breaking News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Related Posts

AAR: January Rail Carloads Increased and Intermodal Decreased Year-over-year

Jury finds Musk, Tesla not liable in securities fraud trial following ‘funding secured’ tweets

I’m 64, make $1,500 a month driving Uber and get almost $5,000 a month in pensions and Social Security – should I pay off my mortgage before I retire?

Jury find Musk, Tesla not liable in securities fraud trial following ‘funding secured’ tweets

A Mercedes-Benz super lorry leaves the Daimler factory in Sindelfingen, Germany, 08 December 2015.

Daniel Maurer | Getty Images

Daimler Truck CEO Martin Daum revealed Friday that he’s more worried about the global semiconductor shortage than he is about the economic impact of the coronavirus pandemic.

“I’m more concerned about semiconductors than Covid at the moment,” Daum told CNBC’s “Street Signs Europe.” “Trucks are necessary to keep our system alive, even in the depth of the crisis.”

Daum said he doesn’t see Covid as a major risk to Daimler Truck at the moment. “The risks are the supply situation, especially on the semiconductor side,” he said.

The executive said that truck manufacturers normally “estimate the market” and then set targets for market share. “Then you have a feeling for what your production quota is,” Daum said.

“These days, you call your semiconductor suppliers, ask how many you can get and that’s basically your production program because you know every single truck you build will sell.”

Automotive chipmaker Infineon is struggling to meet demand for its semiconductors, according to the company’s CEO, Reinhard Ploss. “The automotive, but also other verticals, are very tight currently on supply,” Ploss told CNBC’s “Squawk Box Europe” on Wednesday.

“We are far away from matching the demand,” he said, adding that demand is constantly increasing because there’s a backlog building up. “The problems are rising and piling up over time.”

Infineon opened a new 1.6 billion euro ($1.8 billion) semiconductor factory in Villach, Austria, in September as part of an effort to meet demand for its products. It said chips from the plant will primarily be used to meet demand from the automotive industry, data centers and renewable energy generation of solar and wind power.

Analysts have said that the move toward electric vehicles isn’t helping the semiconductor shortage as they can require up to 10 times as many chips as traditional vehicles.

But electric vehicles being manufactured by Daimler Truck do not require “significantly higher” numbers of semiconductors compared to internal combustion engine equivalents, Daum said.

“I would say it’s less than 10% so that’s not the decisive point,” he said.

Next Post

Why Gold Isn't Protecting You From Runaway Inflation This Time

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

AAR: January Rail Carloads Increased and Intermodal Decreased Year-over-year

by
February 4, 2023
0

by Calculated Risk on 2/03/2023 04:17:00 PM From the Association of American Railroads (AAR) Rail Time Indicators. Graphs and excerpts...

Read more

AAR: January Rail Carloads Increased and Intermodal Decreased Year-over-year

Jury finds Musk, Tesla not liable in securities fraud trial following ‘funding secured’ tweets

I’m 64, make $1,500 a month driving Uber and get almost $5,000 a month in pensions and Social Security – should I pay off my mortgage before I retire?

Jury find Musk, Tesla not liable in securities fraud trial following ‘funding secured’ tweets

Elon Musk Found Not Liable in Trial Over Tweets Proposing to Take Tesla Private

Tech stocks just finished a five-week rally — the longest stretch since market peak in November 2021

Load More

All rights reserved by www.moneyprofitnews.com

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

moneyprofitnews