Stellantis (STLA) and Renault will Partially Suspend Production in Spain

According to a report by Reuters, Stellantis (NYSE: STLA) and Renault will partially halt production at their Spanish plants as the lack of microchips persists.

Two Renault factories in Spain's Castile and Leon region will come to a temporary halt. One of the plants will shut down entirely on Saturday, while the other cancels shifts on several days this week and the next. At Stellantis' plant in Vigo, in northwestern Spain, the company has cancelled Saturday and Sunday night shifts.

"They stopped production for 15 days in February. The supply shortage could mean more shut-downs in any moment," said a Stellantis union representative.

Shares of STLA are down $0.30% in mid-day trading.

By Michael Elkins | [email protected]

You May Also Be Interested In

• Jeep® Brand Teases Cherokee Trailhawk
• Pay attention to this full-stack AI infra provider, says Morgan Stanley
• This oil stock is BofA's Top Pick within Integrateds and Refining sector