Toyota, Amperex suspend operations at China's Sichuan plants due to power crisis - Bloomberg

Aug. 17, 2022 10:35 AM ETToyota Motor Corporation (TM)VLKAF, TOYOF, VWAGY, VWAPYBy: Ravikash, SA News Editor1 Comment

Toyota motor corporation logo on dealership building

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  • Toyota Motor (NYSE:TM) (OTCPK:TOYOF) and batter maker Contemporary Amperex Technology are shutting down plants in China's Sichuan province as drought-driven power crisis power intensified, Bloomberg News reported.
  • Toyota closed a facility and suspended operations until Aug. 20 at the factory in the Sichuan capital of Chengdu — which makes ~30K vehicles per year, including Landcruiser Prado.
  • Amperex too suspended activities at its main lithium battery facility in Yibin till Aug. 20, the report added.
  • Sichuan relies mostly on hydroelectricity for its power needs which makes it vulnerable to heatwaves and drought.
  • A Toyota spokesperson, Shiori Hashimoto, said local government had ordered factories to suspend operations until Aug. 20, the report noted.
  • Earlier in the week, Volkswagen (OTCPK:VWAGY) (OTCPK:VLKAF) (OTCPK:VWAPY) said its facility in Chengdu was affected by power outages but the company anticipated only slight delay in deliveries to customers, the report added.

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