GM restarts production in China
Last year, the company sold 3.09 million cars in China
Stocks impacted: General Motors (GM)
The U.S. automaker said it will restart production in China from February 15. The company has executed contingency plans to mitigate the impact of the coronavirus. The plan will be based on the readiness of supply chain and product inventory needs. In China, GM has a Shanghai-based joint venture with SAIC Motor Corp, in which the Buick, Chevrolet and Cadillac vehicle brands are made. Last year, the company sold 3.09 million cars in China. Also, Tesla resumed production at its Shanghai factory today, Volkswagen is opening a plant it operates with SAIC, while Daimler and Ford are also restarting production at certain locations.
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