Stellantis' Production Hit By Semiconductor Chip Crisis: Reuters

August 30, 2021 3:44 PM | 1 min read | Make a Comment

Stellantis NV STLA has extended production holidays at multiple European plants due to the semiconductor chip crisis, Reuters reports.
Stellantis' plants at Rennes and Sochaux in France and the Eisenach plant in Germany, which produce light commercial vehicles, underwent production holidays last week.
Rennes plant will continue the production stoppage for this week. The Italian plant of SevelSud also suspended its production as planned.
One of the production lines at the Sochaux plant is yet to start production. The Eisenach plant will not produce on Monday and Tuesday.
Demand surge of electronic gadgets further worsened the chip crisis for the automakers.
Price Action: STLA shares traded lower by 1.18% at $20.05 on the last check Monday.