Volkswagen Resumes Partially Halted Production In China: Report

Volkswagen Resumes Partially Halted Production In China: Report
  • Volkswagen AG VWAGY has resumed production at its facilities in China after a pause during the recent COVID-related lockdowns. 
  • The automaker, Bloomberg reported, has resumed operations in its Joint Venture plant in Chengdu and its factory in Changchun.
  • The report cited a company spokesperson who said production may still be affected in a few facilities.
  • The recent surge in COVID-19 cases prompted the government to impose restrictions in accordance with China’s zero-Covid policy.
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  • This resulted in many carmakers halting plant production as the supply of components was affected.
  • The report added that Honda Motor Co HMC paused its operations in Wuhan, central China.
  • Chinese electric vehicle makers Xpeng Inc XPEV and Li Auto Inc LI also faced supply chain constraints.
  • The Chinese government is slowly easing restrictions and exempting local people from presenting negative tests to enter public places.
  • Price Action: VWAGY shares traded higher by 1.39% at $19.56 on the last check Monday.
  • Photo Via Company
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