“We intend to resume operations as soon as the government’s instructions are received, as well as the safety and security of the local community and our business partners,” Hashimoto said. “At this time, other plants’ operations are unaffected.”
Volkswagen plants in the region that typically produce sedans under both the Volkswagen and Audi brands were closed on Monday, according to spokesperson Leslie Bothge. She stated that the company anticipates the shutdown will last until at least Wednesday.
An ongoing chip shortage in 2020 and 2021 stymied auto plant production and sent vehicle prices skyrocketing, contributing to overall inflation. Continued scarcity of new cars may contribute to high inflation in 2022.
The new wave of lockdowns also sent shivers through Chinese technology stocks. On Monday, Alibaba shares fell 9%, while Tencent shares fell 5.2 percent. The broad Shanghai Composite Index fell 2.6 percent.