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Reuters details how the coronavirus has hit South Korea’s Hyundai

Reuters details how the coronavirus has hit South Korea’s Hyundai

South Korean car giant Hyundai Motor’s strategy of relying on China to supply auto parts to its manufacturing hub at home in recent years could be backfiring, Reuters reported. One of its main suppliers, Kyungshin, which has rapidly boosted capacity in China over the past two decades, has seen its operations hit hard by the coronavirus epidemic. Now Kyungshin, which supplies almost half of the wiring harnesses for Hyundai’s auto electrical systems in the carmaker’s South Korean manufacturing hub, is scrambling to make up for production shortfalls.