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“Manufacturing at Torslanda shall be paused quickly from this night on account of a fabric scarcity linked with the semiconductor problem,” Volvo Automobiles stated in an emailed assertion.
Volvo Automobiles, owned by China’s Geely Holding, will quickly cease manufacturing at its Swedish plant in Gothenburg as a result of scarcity of semiconductor chips, it stated on Wednesday.
A world chip scarcity has hit manufacturing, with automakers slicing down on manufacturing and digital gadget makers struggling to maintain up with a pandemic-led surge in demand for telephones, TVs and gaming consoles.
“Manufacturing at Torslanda shall be paused quickly from this night on account of a fabric scarcity linked with the semiconductor problem,” Volvo Automobiles stated in an emailed assertion.
“Manufacturing will restart as quickly as attainable, on the newest earlier than subsequent week,” the Swedish carmaker, which in June halted manufacturing at its Belgian plant in Ghent for per week, stated.
Volvo Automobiles, which final month reported a return to revenue within the first half as demand for electrical vehicles grows, is contemplating itemizing on the Nasdaq Stockholm inventory trade this yr.
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