General Motors will temporarily shut down eight of its 15 North American assembly plants for a week starting Monday because of a worsening global microchip shortage, according to ABC News.
The U.S. Treasury Department said the sale of Magnachip Semiconductor Corp. to a Chinese private equity firm poses “risks to national security,” as Chinese investments in critical technologies meet with enhanced U.S. scrutiny.
Chinese electric vehicle maker Nio became the latest carmaker to temporarily suspend production on Friday as a result of a global semiconductor chip shortage that has led to major losses.
