SEOUL (Reuters) – South Korea’s Hyundai Motor Co said on Tuesday it plans to temporarily suspend production at its Ulsan No.1 plant in South Korea due to chip and component supply issues from April 7-14.
“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.
The factory produces 311,000 vehicles annually, including the Kona SUV and Ioniq 5.
Hyundai was until recently one of the automakers least affected by the chip shortage, largely because it maintained a large stockpile of chips unlike its global peers, Reuters reported last month.
Last week, Honda Motor Co Ltd and General Motors Co both announced that they would continue production suspensions at plants in North America for the coming weeks, citing the chip shortage as one of several reasons.
(Reporting by Heekyong Yang, editing by Kim Coghill and Louise Heavens)