Benzinga | Aug 30, 2021 03:44PM EDT

Stellantis' Production Hit By Semiconductor Chip Crisis: Reuters

* Stellantis NV (NYSE:STLA) has extended production holidays at multiple European plants due to the semiconductor chip crisis, Reuters reports.

* Stellantis' plants at Rennes and Sochaux in France and the Eisenach plant in Germany, which produce light commercial vehicles, underwent production holidays last week.

* Rennes plant will continue the production stoppage for this week. The Italian plant of SevelSud also suspended its production as planned.

* One of the production lines at the Sochaux plant is yet to start production. The Eisenach plant will not produce on Monday and Tuesday.

* Demand surge of electronic gadgets further worsened the chip crisis for the automakers.

* Price Action: STLA shares traded lower by 1.18% at $20.05 on the last check Monday.