Magical Trade
Wednesday, September 27, 2023
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

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

by
November 12, 2021
in Trade News
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

The S&P is heading below 3,000. Basic math (and a metric beloved by famed economist Robert Shiller) suggests it

Wednesday: Durable Goods

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.

ShareTweetPin

Related Posts

The S&P is heading below 3,000. Basic math (and a metric beloved by famed economist Robert Shiller) suggests it

by
September 27, 2023
0

Wednesday: Durable Goods

by
September 27, 2023
0

The Right Amount of Cash to Keep at Home for Emergencies. Hint: Not $480,000

by
September 26, 2023
0

Elon Musk Says Auto Union’s Demands Would Bankrupt Big Three Carmakers

by
September 26, 2023
0

Is Fidelcrest The Best Prop Trading Firm?

by
September 26, 2023
0

Next Post

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

IRS Announces Tax Brackets, Other Inflation Adjustments for 2022

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!

MOST VIEWED

  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • This idiot-proof portfolio has beaten traditional stocks and bonds over 50 years

    0 shares
    Share 0 Tweet 0
  • Josh Brown says Nvidia’s potential is ‘scary’ ahead of a potential AI boom

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net