A car dealership’s window is broken following a strong earthquake in Koriyama, Fukushima prefecture, Japan in this photo taken by Kyodo on March 17, 2022.
Kyodo| via Reuters
Important Takeaways:
- Toyota, major chip supplier suspend production due to earthquake in Japan
- The earthquake adds to already tumultuous times for the automotive industry involving supply chain problems due to Covid-19 and Russia’s invasion of Ukraine.
- As companies monitor and assess potential residual impacts of Wednesday’s 7.4 magnitude earthquake on their supply chains, auto companies most immediately impacted included Toyota Motor and Renesas Electronics, a major supplier of semiconductor chips for the automotive industry
- The world’s largest automaker by volume said 18 production lines at 11 plants (out of 28 lines at 14 plants) would be down for three days next week due to supply problems caused by the earthquake.
- The Tokyo-based semiconductor supplier said it’s attempting to restart the plants and return them to pre-earthquake production volumes
Read the original article by clicking here.
