Hyundai Motor to suspend production in South Korea due to chip shortage: report
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SEOUL - South Korea’s Hyundai Motor Co plans to temporarily suspend production at its Ulsan No.1 plant in South Korea due to chip shortage between April 5 and April 13, Korea Economic Daily reported on Monday, citing the auto industry.
The affected Ulsan factory produces 311,000 vehicles annually including the Kona Electric and Ioniq 5.
“No decision has been made on the reported temporary suspension of the facility,” Hyundai said in a statement to Reuters.
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The Korea Economic Daily said the production at Hyundai’s Ulsan No.1 plant is being suspended due to supply issues regarding chips and power electric modules.
Underscoring the severity of the chip shortage crisis, Hyundai, until recently one of the automakers least affected due to prudent stockpiling, has become the latest automaker to halt manufacturing due to the chip shortage.