Volkswagen cuts working hours due to shortage of chips

Volkswagen, which is suffering from an ongoing shortage of automotive chips, will cut working hours at its main German factory in Wolfsburg until the middle of October, Report informs, citing foreign media.

The shortened working hours affect the first two weeks of October, the company said, adding that on October 1, only one assembly line would be running at the plant, located at the carmaker's headquarters.

Carmakers worldwide have had to cut or adjust production in the wake of the shortage, which Volkswagen has said cost it a high six-digit number in lost vehicle production in the first half of the year.

Volkswagen is due to report third-quarter results on October 28.