Fed Unveils Stablecoin Rules Under GENIUS Act 
SpaceXAI to Double Nvidia Chips at Colossus 2 by Year-End 
Airbus Finds A321neo Fuselage Quality Issue 
Novo Nordisk Strikes €1.17 Billion Nanexa Drug Delivery Deal 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
OpenAI to Preview GPT-6 Cyber AI Model for Cybersecurity 
Erste Group Plans Tender Offer to Boost Poland Bank Stake 
SoftBank Shares Fall as Oracle Flags Stargate Data Center Delay Risk 
Jeff Bezos Invests $32 Billion in Blue Origin as Space Firm Targets Major Growth 
DaVoice Sues Perplexity AI Over Trade Secrets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
FDA Approves Mirum’s Atebrioz for Rare Bone Disorder FOP 
Meta Found Liable in New Mexico Facebook Data Privacy Case 
Dubai’s connectivity remains strong in an uncertain world 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Add as a preferred source on Google
Volkswagen Mexico revealed on Sunday, June 27, that it would be resuming operations in three of its production units. This is expected to start from next week and in July after the production was forced to stop as the company is short on semiconductor parts due to the worldwide chip supply crunch.
As per Reuters, the German automaker shared the news through a statement that was released last weekend. With the announcement, three of Volkswagen Mexico’s manufacturing segments will be returning to activities and currently preparing for it now.
Chip shortage besets car makers worldwide
It is not just Volkswagen that was hit by the chip shortage that led to the shutting down of production plants that are becoming a regular thing within the industry. Since the supply of chips is still low despite the efforts of its makers to increase production, the vehicle manufacturing businesses have been suffering from losses for quite a while now.
The situation was made worse by the pandemic, and experts are saying that the end of the shortage is still far. Aside from Volkswagen, Toyota, General Motors, and Ford Motor have all been cutting productions as well.
At any rate, with the resumption of Volkswagen Mexico’s production, it will now start making Taos, Jetta, and Tigua vehicle models in the plants. These models will have different production restarting dates that will be from next week to July.
Volkswagen to stop production of combustion engine cars
Meanwhile, in a separate announcement, Volkswagen stated that it would no longer make and sell combustion engine cars by 2035. The automaker said that it has set the timeline for its exit in the engine car market in Europe.
Although it will initially start in Europe, it will later stop making vehicles with internal combustion engines in the U.S. and China. France24 reported that this information was shared by one of the company’s board members on Sunday.
The phasing out of the combustion engine cars is part of the company’s goal to go all-electric in the future. The shift to electric cars is a goal for all carmakers today as they push to take part in fighting climate change.
