SEOUL — South Korea’s Hyundai Motor is suspending operations at all three of its domestic plants as coronavirus-induced factory shutdowns in China squeeze its supply of parts.
The automaker stopped production of its luxury Genesis brand at its main manufacturing hub in Ulsan on Tuesday. The shutdown will reportedly last at least a week, though labor and management are still negotiating the exact duration.
Production lines for Hyundai-branded sedans and sport utility vehicles also will be halted soon.
The stoppages at South Korea’s biggest automaker add to the stress on a slowing industry that accounts for around a fifth of gross domestic product, including related sectors.
Hyundai affiliate Kia Motors is considering putting production on hold depending on its supply situation.
Midtier South Korean automaker SsangYong Motor, owned by Indian conglomerate Mahindra & Mahindra, has suspended factory operations as well.
