Financially troubled carmaker SsangYong Motor Co. said Thursday it will suspend the operation of its local plant for a week due to lack of semiconductor chips.
The SUV-focused carmaker resumed operations on March 2 after halting the Pyeongtaek plant for 16 days in February as its subcontractors refused to supply parts due to outstanding payments.
SsangYong Motor’s Indian parent Mahindra & Mahindra Ltd. had been in talks with the U.S. vehicle importer to sell its majority stake in the Korean unit as part of its global reorganization plan amid the COVID-19 pandemic.