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