Factories in South Korea produce 40 percent of Hyundai’s global car output. Moreover, all enterprises are highly dependent on the supply of spare parts from China. According to Autocar, at the beginning of the week the company suspended the production of Palisade crossovers and is now looking for possible solutions to the problem, including considering options for concluding contracts with other companies.
The South Korean manufacturer was the first to suspend operations due to the 2019-nCoV coronavirus outside of China. Other companies – Tesla, Ford and Peugeot – have so far limited themselves to freezing business activities within the country: factories have been closed, business trips to and from China have been canceled.