Hyundai has announced that it plans to temporarily suspend production at its Ulsan plant in South Korea due to chip and component shortages. The South Korean company will suspend production from 7th April 2021 to 14th April 2021.
“We are closely monitoring the situation to take prompt and necessary measures and optimize production in line with the supply conditions,” Hyundai said in a statement.
Hyundai explained that the chip shortages affect front view camera systems for Kona sport utility vehicles (SUV). It also says the issue affects the power electric modules for the IONIQ 5.
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Hyundai had not been affected by the chip shortage initially because of the huge stockpile it had, unlike many other global manufacturers hurt by the issue.
NIO, Honda, and General Motors had recently revealed plans to suspend manufacturing because of the scarcity of chips and components they require to work. Both Honda and General Motors had announced earlier this week that they would continue to suspend production at their plants in North America for the coming weeks.
Ford and Volvo also announced that the semi-conductor shortage was going to have an impact on its productivity. The company announced that the shortage would have a “substantial” impact on its second-quarter earnings. It also announced it would implement stop days across its truck manufacturing sites globally starting in April 2021.
Covid-19 shutdowns affecting chip productions, the booming demand for laptops and tablets; due to increased reliance on working from home, and US sanctions against Chinese tech companies had sparked a global shortage of chips affecting both electronic and manufacturing sectors in December 2020.
Initially, the shortage had primarily affected just the auto industry. However, it widened to affect a range of consumer electronics, including smartphones.
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