Automobile

Hyundai suspends output due to chip shortages

Hyundai Motor Group planned to suspend production at several assembly plants this week as its struggled with a lack of semiconductor supplies.

Hyundai Motor said it would halt production at its Ulsan 5 plant, which makes the Tucson SUV and the Nexo hydrogen fuel cell car, on Monday to Tuesday of this week while the Ulsan 3 plant, which produces the Avante and Venue car models, would be shut down on Tuesday.

Kia also plans to halt production at its Sohari 2 plant, which makes the Stonic small SUV, on Monday and Tuesday.

Earlier this month Hyundai halted production at its Uslan 4 plant, which makes the Porter light truck, for two days due to the chip shortages. 

This followed more prolonged stoppages in April, with Hyundai’s Ulsan 1 plant – which makes the Kona and Ioniq 5 models – closed for over a week and the Asan plant – which produces the Hyundai Sonata and Grandeur sedans – shuttered for five days.

Following the recent announcement of its first quarter earnings, Hyundai Motor said the stoppages would have an impact on its second quarter earnings, with further halts expected throughout the quarter.

The news comes as the semiconductor industry warned that the global chip shortages would continue well into the second half of the year.



Most Related Links :
usnewsmail Governmental News Finance News

Source link

Back to top button