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- Volkswagen (OTCPK:VWAGY -2.5%) cuts working hours at its main German factory in Wolksburg until the middle of October as the global chip shortage continues.
- The German automaker said on Wednesday that only one assembly line would be running at the plant located at its headquarters, starting Oct.1 for the first two weeks of the month, reports Reuters.
- Earlier, the company is setting up a new electric vehicle battery system factory in the eastern China city of Hefei which will be ready to produce cars in 2023