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6/14, 5:27 AM (Source: TeleTrader)
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Hyundai suspends US plant due to chip shortage

Hyundai Motor Company announced on Monday it will cease operations at its factory in the United States, citing semiconductor shortage and maintenance work as the main reasons for the move.

The carmaker's Alabama facility will be closed for one week from June 14 due to chip shortage, and for two weeks from June 16 to July 11 for routine maintenance, a Hyundai spokesman told the Yonhap News Agency.

Last month, Hyundai and Samsung Electronics Co. came to an agreement to cooperate on solving the chip shortage issue.

Breaking the News / MS