Production pauses for Tesla and Volvo as the Red Sea shipping crisis worsens.

Tesla and Volvo have temporarily halted production at their German and Belgian plants, respectively, due to disruptions in supply chains caused by the ongoing conflict in the Red Sea. Attacks by Yemeni Houthi rebels on ships in the Red Sea have led to a shortage of components for these automakers, impacting their European manufacturing facilities. The conflict has raised concerns over the global economic recovery and the potential for inflation to rise due to higher freight and oil prices.

January 12, 2024
65 Articles

Further Reading