The Prague Post - Shanghai lockdowns could force China carmakers to stop production, XP

EUR -
AED 4.267024
AFN 77.670638
ALL 96.465871
AMD 445.058449
ANG 2.080243
AOA 1065.448908
ARS 1661.270266
AUD 1.769697
AWG 2.091394
AZN 1.973052
BAM 1.949049
BBD 2.343184
BDT 141.639403
BGN 1.955567
BHD 0.437957
BIF 3427.62771
BMD 1.161886
BND 1.503991
BOB 8.056096
BRL 6.222359
BSD 1.16337
BTN 103.203533
BWP 15.476394
BYN 3.955599
BYR 22772.957205
BZD 2.339796
CAD 1.622794
CDF 2881.475894
CHF 0.930467
CLF 0.028421
CLP 1114.957092
CNY 8.272103
CNH 8.303973
COP 4504.049419
CRC 585.369932
CUC 1.161886
CUP 30.789968
CVE 109.884393
CZK 24.381586
DJF 207.172416
DKK 7.465579
DOP 72.837399
DZD 150.900556
EGP 55.2477
ERN 17.428284
ETB 169.130753
FJD 2.634169
FKP 0.862276
GBP 0.867568
GEL 3.154546
GGP 0.862276
GHS 14.542629
GIP 0.862276
GMD 83.655791
GNF 10090.051045
GTQ 8.914124
GYD 243.357083
HKD 9.043194
HNL 30.545069
HRK 7.535759
HTG 152.232711
HUF 393.415608
IDR 19303.566888
ILS 3.820857
IMP 0.862276
INR 103.155458
IQD 1522.070099
IRR 48868.907312
ISK 141.610452
JEP 0.862276
JMD 186.214208
JOD 0.823734
JPY 176.998208
KES 150.111685
KGS 101.606918
KHR 4670.821654
KMF 491.477768
KPW 1045.692998
KRW 1650.644826
KWD 0.356237
KYD 0.969542
KZT 628.861809
LAK 25229.612079
LBP 104523.528002
LKR 351.891153
LRD 212.314605
LSL 20.031134
LTL 3.430746
LVL 0.702813
LYD 6.307154
MAD 10.612242
MDL 19.404788
MGA 5182.050907
MKD 61.622986
MMK 2439.423078
MNT 4179.169043
MOP 9.326296
MRU 46.40706
MUR 53.179655
MVR 17.770888
MWK 2016.914006
MXN 21.391481
MYR 4.90282
MZN 74.248288
NAD 20.031339
NGN 1705.113305
NIO 42.811713
NOK 11.614095
NPR 165.125344
NZD 2.022605
OMR 0.446748
PAB 1.16337
PEN 4.026852
PGK 4.882069
PHP 67.45915
PKR 329.545651
PLN 4.254085
PYG 8136.816472
QAR 4.252271
RON 5.099048
RSD 117.158714
RUB 95.358902
RWF 1682.410308
SAR 4.358284
SBD 9.562948
SCR 17.251236
SDG 698.873457
SEK 10.968374
SGD 1.505136
SHP 0.91306
SLE 27.095613
SLL 24364.163753
SOS 664.027936
SRD 44.224876
STD 24048.685496
STN 24.899208
SVC 10.17974
SYP 15106.679163
SZL 20.031108
THB 37.766513
TJS 10.790425
TMT 4.0666
TND 3.393291
TOP 2.721247
TRY 48.463223
TTD 7.901631
TWD 35.515587
TZS 2854.262554
UAH 48.078371
UGX 4001.141229
USD 1.161886
UYU 46.439149
UZS 13988.547804
VES 219.611274
VND 30627.30367
VUV 140.508882
WST 3.228337
XAF 653.689998
XAG 0.023863
XAU 0.000288
XCD 3.140054
XCG 2.096738
XDR 0.812984
XOF 653.692801
XPF 119.331742
YER 277.737453
ZAR 20.035009
ZMK 10458.360477
ZMW 27.601397
ZWL 374.12668
  • RIO

    -0.7300

    66.25

    -1.1%

  • RBGPF

    -1.0800

    77.14

    -1.4%

  • CMSC

    -0.0600

    23.74

    -0.25%

  • RYCEF

    -0.1900

    15.39

    -1.23%

  • NGG

    -0.0200

    73.88

    -0.03%

  • GSK

    0.0500

    43.5

    +0.11%

  • VOD

    -0.0200

    11.27

    -0.18%

  • BTI

    0.8000

    51.98

    +1.54%

  • RELX

    -0.9700

    45.44

    -2.13%

  • CMSD

    -0.0400

    24.4

    -0.16%

  • AZN

    0.3800

    85.87

    +0.44%

  • SCS

    -0.1200

    16.86

    -0.71%

  • JRI

    -0.1100

    14.07

    -0.78%

  • BP

    0.1400

    34.97

    +0.4%

  • BCE

    0.1000

    23.29

    +0.43%

  • BCC

    -0.6600

    74.52

    -0.89%

Shanghai lockdowns could force China carmakers to stop production, XP
Shanghai lockdowns could force China carmakers to stop production, XP / Photo: Hector RETAMAL - AFP/File

Shanghai lockdowns could force China carmakers to stop production, XP

Chinese auto makers may have to put the brakes on production if strict Covid-19 curbs in Shanghai persist, said the founder of electric carmaker XPeng, as a prolonged lockdown of the economic hub menaces supply chains.

Text size:

The lockdown has kept Shanghai's 25 million residents mostly at home, forcing manufacturers to halt operations, and has made China's GDP growth target of around 5.5 percent look increasingly difficult to achieve.

Covid outbreaks across the country and the associated reductions in economic activity have already hit the auto industry hard, with car sales dropping 10.5 percent in March.

"If supply chain companies in Shanghai and its surrounding areas cannot find a way to dynamically resume work and production, all original equipment manufacturers may have to stop production in May," XPeng chief He Xiaopeng said Thursday on social media.

XPeng has been touted as a Chinese challenger to US electric car giant Tesla, and its chief said that businesses were hoping for more support from the authorities to navigate the Covid closures.

Volkswagen also said it has been "severely hit by Covid-19 outbreaks in Changchun and Shanghai", where the German titan's Chinese joint ventures are located.

The firm is "temporarily unable to meet high customer demand", said Volkswagen Group China CEO Stephan Wollenstein on Thursday, adding that he hoped the production delays could be made up in the coming months.

China's zero-Covid policy has been increasingly strained as the country battles its highest number of infections since the start of the pandemic.

Volkswagen said around 20 percent of its dealers were forced to temporarily close in March alone as a result of lockdowns.

Tesla's multi-billion-dollar "gigafactory" in Shanghai -- which the company calls its main export hub -- has also been reportedly shut.

Chinese electric vehicle maker Nio said last weekend that it had suspended vehicle production, as business partners in virus-hit areas such as Jilin and Shanghai halted operations.

F.Prochazka--TPP