Volvo Cars, owned by China's Geely Holding will halt production at its Swedish plant in Torslanda, on the outskirts of Gothenburg, during next week due to the shortage of semiconductor chips, it said on Monday. A global chip shortage over the past year has caused a major delay in manufacturing activity and forced several automakers to cut down on production. "Due to the current material shortage situation, triggered by a combination of global semiconductor shortages and new Covid-19 outbreaks, Volvo Cars has decided to pause production in Torslanda for the week of Aug 30-Sep 3," Volvo Cars said in an e-mailed statement.