The company says the production shutdown will be implemented in the second quarter.
In general, production is to be suspended for two to four weeks, depending on the plant, explains the Volvo Group.
The chip deficit has been caused by a significant increase in demand for consumer electronics during the coronavirus pandemic, making it difficult for semiconductor manufacturers to produce the required volume.
For this reason, several other automakers, including Volkswagen, Daimler, Fiat Chrysler, Toyota, Nissan and Honda, have previously warned of production problems.
Market research firm IHS Markit predicts that the problem could be the biggest disruption in China, where car production could fall by 250,000 units in the first quarter.
Meanwhile, production in Europe could fall by 100,000 cars.
