SsangYong Motor plans to suspend production for several days this month due to shortages of semiconductors, the company announced in a regulatory filing.
The production cuts at its 250,000 units/year plant in Pyeongtaek, 70km south of Seoul, would start on 8 December with production scheduled to resume on 14 December. The company also operates an engine plant in Changwon.
Ssangyong exited a bankruptcy court-led debt rescheduling programme last month after 18 months following the acquisition of a 62% stake in the company by a consortium led by local steel and chemicals firm KG Group. Previous majority shareholder Mahindra & Mahindra of India now owns 10.15% of its shares.
Ssangyong sold 104,566 vehicles globally in the first 11 months of the year, up 39% on depressed year earlier sales, including 41,570 exports.
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