WASHINGTON (Reuters) – Stellantis NV and Chinese electric vehicle maker Nio (NYSE:NIO) became the latest carmakers to announce new production cuts as a result of a global semiconductor chip shortage.
Stellantis said on Friday it will temporarily halt production at five North American plants next week because of the global microchip shortage: two assembly plants in Canada, one in Mexico and two in the United States. The production halts will start next week through early to mid-April.
The plants affected are the company’s Toluca, Mexico facility, where it produces the Jeep Compass; Windsor Assembly in Ontario where it builds Chrysler Pacifica minivans; a plant in Illinois that builds the Jeep Cherokee SUV; a Michigan plant that builds the Ram 1500 Classic pickup and another Ontario plant that builds the Chrysler 300, Dodge Charger and Dodge Challenger.
Stellantis did not specify how long the shutdowns would last, but a union local in Windsor said the minivan plant would halt production for four weeks starting on Monday. Read more…..
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I sat down with one of my greatest heroes, Paul Volcker, to talk about the state of the economy and U.S. government as well as learn about the principles that guided his incredible career. We also discuss the decline of civil service and how Paul hopes to revitalize the field with The Volcker Alliance by working with universities and the government to train people effectively and efficiently and minimize the bureaucratic hurdles that deter people from pursuing government jobs.