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South Korea’s largest automaker Hyundai Motor halted operations at one of its assembly lines Tuesday because of a lack of parts due to the coronavirus outbreak in China and is reviewing a wider suspension, a company spokeswoman said.<\/p>\n
The global car industry operates on tight supply lines and was thrown into turmoil when Japan’s Fukushima earthquake and tsunami in 2011 knocked out a Renesas Electronics factory producing a vital and widely used computer chip.<\/p>\n
The virus outbreak in China had disrupted wiring component procurement, a Hyundai spokeswoman said.<\/p>\n
“For now, the production line for the Genesis sedans at the Number 5 plant in Ulsan has been temporarily suspended,” she said.<\/p>\n
She could not estimate when production might resume and added the company was discussing possible suspensions of operations at more plants with its labour union.<\/p>\n
“The situation doesn’t look good,” she said.<\/p>\n
The deadly virus that first appeared in the central Chinese city of Wuhan — a centre for the auto industry in the world’s second-largest economy — has resulted in 425 deaths and spread to more than 20 other countries.<\/p>\n
It has prompted widespread business shutdowns in China and airlines around the world have cancelled flights, raising concerns about the hit to China’s economy and beyond.<\/p>\n
Hyundai has seven domestic plants and several overseas, including some in China.<\/p>\n
Tuesday’s move comes after the carmaker cancelled overtime factory hours at the weekend to produce its flagship Palisade sport utility vehicle, although production of those resumed on Monday.<\/p>\n
Markets have struggled in recent days as the World Health Organization declared a global health emergency over the virus, with analysts concerned about its impact on world economic growth.<\/p>\n<\/div>\n
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