Executives at several carmakers and motor parts suppliers warned that plants in Europe and the US were only weeks away from being forced to close as disruptions caused by the coronavirus outbreak in China rippled through the global manufacturing supply chains.
The warning came as Hyundai said on Tuesday that it had to shut down all its car factories in South Korea after running out of components from China. The world’s fifth-biggest carmaker by sales said it was searching for new sources of engine wire-harness after problems in the supplies of the core electric componentry from China.
“There is a concerted effort to mitigate it before it really bites,” said a senior director at one global car group, adding that its plants had three to four weeks to remove Chinese parts from their supply lines or risk halting production as well.