China’s factory activity shrunk in September for the first time since February 2020, following sweeping curbs on electricity usage, according to China’s National Bureau of Statistics (NBS). Data show the official manufacturing Purchasing Manager’s Index (PMI) in September was at 49.6, down from 50.1 in August. The economic indicator fell below score 50 for the…
China’s Factory Activity Hits the Lowest Level in 19 Months Amid Power Crisis
October 1, 2021
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Japan’s Factory Output Extends Declines on Car Production Cuts
TOKYO—Japan’s industrial output fell for the second straight month in August as COVID-19 outbreaks elsewhere in Asia disrupted supply chains for carmakers already facing headwinds from a prolonged chip shortage. Separate data out on Thursday showed retail sales in August slipped for the first time in six months as households cut spending amid a coronavirus…
South Korea Innovation to Invest $4.3 Billion in US Battery Production With Ford Motor
September 28, 2021
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SEOUL—South Korea’s SK Innovation Co. Ltd plans to invest 5.1 trillion won ($4.32 billion) to build battery production facilities in the United States through its battery joint venture with Ford Motor Co. through 2027, the company said in a regulatory filing on Tuesday. The South Korean battery maker, which supplies electric car batteries to Ford…
Some Apple, Tesla Suppliers Suspend Production in China Amid Power Pinch
September 27, 2021
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Several Apple Inc. and Tesla Inc. suppliers have suspended production at some Chinese factories for a number of days to comply with tighter energy consumption policies, putting supply chains at risk in the peak season for electronics goods. Two major Taiwanese chipmakers, however, said their China facilities are operating as normal. The development comes as…
GM Extends EV Bolt Production Halt to Mid-October
WASHINGTON—General Motors Co. said on Thursday it will extend a shutdown of a Michigan assembly plant to mid-October following a new recall of its Chevrolet Bolt electric vehicles over battery issues after 12 reported fires. The largest U.S. automaker said the extension of the production halt at its Orion Assembly plant will go through at…
Japan Cuts Economic View on Weaker Production, Spending Due to COVID-19 Revival
TOKYO—Japan cut its economic view for the first time in four months as a surge in COVID-19 cases disrupted manufacturers’ global supply chains and dampened consumer confidence. In a monthly assessment approved by the cabinet on Thursday, the government pointed to domestic and overseas virus situations as evident downside risks to the country’s economic recovery….
Toyota Cuts Production Target by 3 Percent on Parts and Chips Shortages
TOKYO—Toyota Motor Corp. cut its annual production target by 300,000 vehicles on Friday as rising COVID-19 infections slowed output at parts factories in Vietnam and Malaysia, compounding a global shortage of auto chips. “It’s a combination of the coronavirus and semiconductors, but at the moment it is the coronavirus that is having the overwhelming impact,”…
Uneven Recovery for U.S. Offshore Energy Production After Ida
September 3, 2021
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U.S. Gulf Coast energy companies on Friday advanced the recovery from Hurricane Ida on a few fronts, but slipped elsewhere as lack of crews, power and fuel reversed earlier production gains. Ports were reopening and some pipelines restarted as companies completed post-storm evaluations. However, larger hurdles remained for producers and refiners that struggled to get…
Uneven Recovery for US Offshore Energy Production After Ida
U.S. Gulf Coast energy companies on Friday advanced the recovery from Hurricane Ida on a few fronts, but slipped elsewhere as lack of crews, power and fuel reversed earlier production gains. Ports were reopening and some pipelines restarted as companies completed post-storm evaluations. However, larger hurdles remained for producers and refiners that struggled to get…
GM, Ford Halt Some Production as Chip Shortage Worsens
DETROIT—The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks. General Motors announced Thursday that it would pause production at eight North American plants during the next two weeks, including two that make the company’s top-selling Chevrolet Silverado pickup. Ford will stop making…
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