Diess also said that Europe faces huge threat of higher inflation from prolonged conflict in Ukraine.
VW did not immediately respond to a Reuters request for comment.
European automakers including VW, Porsche, BMW, and Mercedes-Benz are struggling to obtain crucial wire harnesses as suppliers in western Ukraine have been shuttered by Russia’s invasion, forcing them to curtail production.
VW brought forward a production stop at its home factory in Wolfsburg due to parts shortages.