MUMBAI: Global automakers continue to be in a period of uncertainty as many fail to resume production at their
Chinese factories on Monday when the first extension to
new year holidays ended. Production schedules at plants outside
China too remained uncertain over stoppage of parts supply from China.
Majority of the automakers in China and their suppliers have manufacturing facilities spread all over the mainland and the severely affected provinces account for about 12-15% of total production, according to data from Jato Dynamics.
While production will remain suspended in the affected provinces, other facilities are beginning to finalise a staggered start of production in the coming five-seven days.
Tesla resumed production at its Shanghai factory on Monday with assistance from local government officials, while
Volkswagen opened a plant it operates with SAIC in Shanghai and most of the plants in its FAW joint venture, according to Seeking Alpha.
Daimler and Ford also restarted production at certain locations, the data suggested, while Toyota Motor and Honda Motor extended their production shutdowns for the time being. General Motors announced that it will start production from February 15, while Toyota announced the same from February 17, according to Jato. Fiat Chrysler Automobiles was the first automaker to flag multi-week disruptions at European factories due to parts shortages.
Shares of Tesla gained as much as 9% in early trading on Monday to reach $812 per share after the electric carmaker resumed production at its Shanghai factory.