By Mauro Orru

Volkswagen AG's software unit CARIAD and STMicroelectronics NV struck an agreement to develop chips for Volkswagen's next generation of vehicles, as the German car maker moves to secure supplies for years to come amid a shortage of semiconductors.

The companies said in a joint statement Wednesday that the partnership is aimed at new Volkswagen vehicles based on a unified and scalable software platform.

Taiwan Semiconductor Manufacturing Co., the world's largest contract chip maker, will manufacture system-on-chip wafers for STMicroelectronics.

"With the planned direct cooperation with ST and TSMC, we are actively shaping our entire semiconductor supply chain. We're ensuring the production of the exact chips we need for our cars and securing the supply of critical microchips for years to come," said Murat Aksel, Volkswagen Board Member for Purchasing.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

July 20, 2022 08:40 ET (12:40 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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