Hyundai Motor has suspended production at a fourth China factory for one week starting March 24, online media ChosunBiz reported on Sunday, fuelling worries about the impact of South Korea’s political tension with China on sales in the automaker’s top market.
Shares of Hyundai Motor fell as much as 3 percent on Monday, while its affiliates Kia Motors and Hyundai Mobis also traded lower. Online media ChosunBiz reported on Sunday that Hyundai Motor’s China joint venture has told suppliers that it will idle the factory in Cangzhou, Hebei Province from March 24 to April 1, to check its production line.