Mahindra & Mahindra on Thursday said the output at its automotive division will be cut by up to 25% owing to ‘no-production’ days across plants due to semiconductor shortage.
In a filing, M&M said its automotive division continued to face supply shortage of semiconductors, which further accentuated due to COVID lockdowns in some parts of the world.
“Consequently, the company will be observing ‘no production days’ of about 7 days in September,” the company said. The move is estimated to result in a “reduction in production volumes of the automotive division in September 2021, by 20-25%,” M&M added.
