Hyundai Motor to suspend production in South Korea due to chip shortage: report

South Korea’s Hyundai Motor Co will temporarily suspend production at its Ulsan No.1 plant between April 5 and April 13 due to chip shortage.

The said Ulsan factory manufactures 311,000 vehicles annually, including the Ioniq 5 and Kona Electric.

Hyundai has become the latest automaker to suspend manufacturing due to the chip shortage. It was until recently among the automakers least affected by the chip shortage due to prudent stockpiling.

Honda Motor and General Motors are also suspending production at their plants in North America.

Among the factors that resulted in a global chip shortage include factory shutdowns, booming demand for laptops and tablets, and sanctions against Chinese tech companies.

The shortage has widened from the auto industry to affect a range of consumer electronics, including smartphones.