Chip shortage forces temporary closure of Volvo Cars factory - GP - Reuters

STOCKHOLM, Oct 25 (Reuters) - Swedish automaker Volvo Cars (VOLCARb.ST) will temporary close one of its factories due to a chip shortage, the company told newspaper Goteborgs-Posten on Tuesday.

"There will be a temporary break in production," Merhawit Habte, press spokesperson at Volvo Cars told GP, adding the factory will be closed for one week. "It is the ongoing problem with semiconductor shortages."

Volvo said last month that demand remained good, but the component shortages as well as power cuts and COVID-19 outbreaks in China interrupted output.

Reporting by Johan Ahlander; Editing by Jacob Gronholt-Pedersen

Our Standards: The Thomson Reuters Trust Principles.

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