Hyundai will suspend all car production in South Korea because of the Coronavirus. It announced the stoppage will take place between 7 February and 11 February 2020 (at the latest).
The suspension has occurred because of the Coronavirus affecting Hyundai’s parts supply chain in China, specifically the production of wiring harnesses.
The shutdown of production makes Hyundai the first car manufacturer outside of China to be affected by the outbreak of the disease.
“Hyundai Motor has decided to suspend its production lines from operating at all of its plants in Korea,” the carmaker said in a statement.
“The company is reviewing various measures to minimise the disruption of its operations, including seeking alternative suppliers in other regions.”
Hyundai produces around 1.8 million vehicles in South Korea per year. For reference, its yearly sales top 4.4 million units. The company operates 13 production facilities across the globe, with seven in South Korea.
The Coronavirus has caused business shutdowns across China, while airlines have suspended travel to the affected areas. It has resulted in more than 400 deaths so far, and has been declared a global health emergency by the World Health Organisation.
It was also reported recently that Coronavirus would likely result in a drop in fuel prices in the UK. This has been put down to the severe reduction in China’s use of fuel, following the restrictions on travel.