Carmakers close Chinese factories because of coronavirus

Carmakers close Chinese factories because of coronavirus

February 8, 2020 / 11:58 AM / Updated 17 hours ago
Factbox: Carmakers close Chinese factories because of coronavirus

(Reuters) - Automakers and parts suppliers have shut factories in China, in line with government guidelines, or have flagged a hit to profits following the coronavirus outbreak.
Tesla (TSLA.O) said last week that a delay to an increase in production in Shanghai due to a factory closure would hit profitability slightly. On Wednesday, a senior executive said Tesla would delay deliveries of Model 3 sedans built in that plant. The company is also evaluating whether the supply chain for cars built in its Fremont, California, plant will be affected.

jordanrichard | 09/02/2020

Elon, yesterday, re tweeted a Tweet that stated that Tesla will resume production tomorrow. Also Reuters is late in their reporting. This factory shut down story has been known before the 8th, which is the date of Reuter’s story.

andy.connor.e | 09/02/2020

The factory shutdown was a week and a half. It was announced on the earnings call which was a week and a half ago. This is why i said that the stock dropping due to the coronavirus delay would be temporary. they missed out on a week and a half of production, its not like the factory shut the doors for good. It'll be back to $900 in no time.

Ross1 | 10/02/2020

Its on the way up again premarket: 5.5% so far...

tew ms us | 10/02/2020

Some good developments in China's coronavirus containment efforts: WHO experts are being allowed in and the number of new cases diagnosed per day is declining. From Yahoo News:

"A WHO "international expert mission" left late Sunday for China, the agency's director general Tedros Adhanom Ghebreyesus said on Twitter. The mission is led by Bruce Aylward, a veteran of previous health emergencies.

"While the death toll has climbed steadily, new cases have declined since Wednesday's single-day peak of nearly 3,900 people nationwide."