2/7, 11:31 AM (Source: TeleTrader)
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Hyundai, Kia at risk of heavy output losses due to coronavirus

South Korean carmaker Hyundai Motor Co. announced on Friday that its factories in China would remain shut until February 17 due to rising fears of the coronavirus spreading.

Earlier today, the South Korean auto giant and its affiliate Kia Motor said they are suspending all domestic assembly facilities as well due to a lack of components produced in China.

"If auto parts factories in China resume operations on February 10 or 11, production losses from a lack of components will be limited," a company's spokesperson told Yonhap in a statement. "If not, the carmakers will likely suffer heavy output losses from an extended suspension," the spokesperson added.

Breaking the News / GG