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Hyundai Motor’s China plant halted again by supply disruption

Collected: 2017.09.05

Distributed: 2017.09.07

Source: Go Direct

South Korea’s Hyundai Motor Co. said Tuesday one of its five Chinese plants halted operations due to a supply disruption, its second shutdown over the last few weeks as the carmaker struggles in the largest automobile market amid an ongoing diplomatic row over installment of a U.S. antimissile shield in Korea.

A plant in Cangzhou, Hebei province suspended operations after a German supplier refused to deliver air intake systems because of delayed payments, said Hyundai Motor.

A car is composed of over 20,000 parts and a delay in a single piece could disrupt the whole production.

The company is currently in talks with the supplier and production is expected to resume tomorrow, said an unnamed official at Hyundai Motor.

Last month, the carmaker had to close four of its five factories in China for almost a week because of delayed payment to its suppliers.

In recent months, South Korean firms have suffered a sales slump in the world’s biggest auto market as relations between the two neighbors strained over Seoul’s decision to deploy a U.S. missile defense system, which Beijing opposes for national security reasons. In the January-July period, Hyundai Motor’s car sales in China nearly halved from a year earlier.

As of 1:31 p.m., shares of Hyundai Motor fell 1.07 percent at 138,500 won ($122.3).

By Lee Seung-hoon

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