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Stellantis’ Production Hit By Semiconductor Chip Crisis: Reuters

Stellantis NV (NYSE:STLA) has extended production holidays at multiple European plants due to the semiconductor chip crisis, Reuters reports. Stellantis’…
byAnusuya Lahiri
August 30, 2021
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  • Stellantis NV (NYSE: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.
 
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