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HYMLF - Hyundai reportedly plans to suspend production at key South Korean plant
Hyundai Motor Co. Ltd.
Hyundai Motor (HYMLF) plans to temporarily suspend production at its Ulsan No.1 plant in South Korea from April 5 to April 13 due to the global chip shortage, according to Korea Economic Daily. The Ulsan factory produces 311K vehicles annually including the Kona Electric and Ioniq 5. Hyundai says an official decision on suspending production hasn't been made yet. Shares of Hyundai are up 12.25% YTD in Seoul trading. Read about Hyundai's electrification push.