General Motors Shares Gain After Resuming Production in 5 Plants: Reuters

May 27, 2021 11:35 AM | 1 min read | Make a Comment

General Motors Co GM announced it resumes production at five global assembly plants, partially ending the global semiconductor chip crisis-induced production halt, Reuters reports.
GM will resume production at four plants in the U.S., Mexico, and Canada from next week. Two plants in Mexico that build the Chevrolet Equinox, GMC Terrain, and Chevrolet Blazer, will resume production next week.
GM will also resume total production at its Bupyeong 1 Assembly in Korea next week. The plant had been operating at 50% capacity since April 26. GM will return another Korean assembly plant to two shifts.
Last month GM had temporarily extended production cuts at multiple North American factories due to the crisis.
Price action: GM shares traded higher by 3.60% at $60.17 on the last check Thursday.

Posted In: News Tech Media Briefs Reuters semiconductors

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