Volkswagen Resumes Partially Halted Production In China: Report
Volkswagen AG (OTC: 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.
Also Read: Volkswagen CEO Plans To Present Software Roadmap On December 15
This resulted in many carmakers halting plant production as the supply of components was affected.
The report added that Honda Motor Co (NYSE: HMC) paused its operations in Wuhan, central China.
Chinese electric vehicle makers Xpeng Inc (NYSE: XPEV) and Li Auto Inc (NASDAQ: 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.
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