Toyota Is Halting Production in China Until Feb. 9

This post was originally published on this site

(Bloomberg) — Toyota Motor Corp. is halting operations in China until Feb. 9, joining a growing list of global companies that have cut back on business activities in China as a new coronavirus infection spreads, with more than 130 people killed already.

“Given the various factors including the guidelines by the local and region governments and parts supply situation, as of Jan. 29, we have decided to halt operations in our plants in China until Feb. 9,” Maki Niimi, a spokesman for the Japanese automaker, said. “We will monitor the situation and make further decisions on operations from Feb. 10.”

Toyota has already restricted travel to Hubei province, based on guidelines from Japan’s foreign ministry. While there are no restrictions to other parts of China, Toyota has asked employees to avoid unnecessary travel to other areas of the country, Niimi said. There are currently no Toyota employees in Wuhan, Hubei’s capital, or the province, he added.

Asked whether there would be an impact on Toyota’s supply chain, Niimi said: “Since there is an extensive supply chain in the automotive industry and there are a wide range of parts and components that are used for vehicles, it is difficult to specifically comment.”

(Updates with comment on supply chain.)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment