Stock Market News

GM’s South Korea unit resumes production at two factories

2022.07.26 03:14

GM's South Korea unit resumes production at two factories
GM’s South Korea unit resumes production at two factories

GM’s South Korea unit resumes production at two factories – Budrigannews.com
General Motors Co (NYSE:GM)’s South Korea unit has resumed production at its two factories in the country this week following a production halt that lasted about two weeks over procurement issues, an official at GM Korea told Reuters on Tuesday.

The U.S. automaker’s Korea unit had suspended production of all vehicles at its Changwon and No. 2 Bupyeong plants since mid-July after a local supplier, which demanded a price hike for its products, refused to supply auto parts.

South Korea’s ERAE AMS, which makes parts for automakers including Volkswagen AG (OTC:VWAGY), Hyundai Motor Co and BYD, refused to supply parts, demanding a price increase for parts supplied to GM Korea’s factories.

GM Korea did not have a comment and ERAE AMS was not available for comment when contacted by Reuters.

GM Korea’s Changwon and No. 2 Bupyeong plants have a combined annual production capacity of about 70,000 vehicles, accounting for about 30% of GM Korea’s total annual production capacity last year, data from the Korea Automobile Manufacturers Association showed.

Production at No. 1 Bupyeong plant, which makes the Trailblazer sport-utility vehicle (SUV), has not been affected, according to GM Korea.

 

 

GM’s South Korea unit resumes production at two factories

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,096.28 0.27%
ethereum
Ethereum (ETH) $ 3,382.15 1.11%
tether
Tether (USDT) $ 1.00 0.06%
solana
Solana (SOL) $ 253.48 1.50%
bnb
BNB (BNB) $ 660.67 0.05%
xrp
XRP (XRP) $ 1.45 0.93%
dogecoin
Dogecoin (DOGE) $ 0.423124 3.40%
usd-coin
USDC (USDC) $ 1.00 0.07%
cardano
Cardano (ADA) $ 1.05 1.64%
staked-ether
Lido Staked Ether (STETH) $ 3,382.64 1.01%
tron
TRON (TRX) $ 0.209319 2.69%
avalanche-2
Avalanche (AVAX) $ 41.59 2.28%
stellar
Stellar (XLM) $ 0.531322 10.11%
the-open-network
Toncoin (TON) $ 6.11 4.80%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 4.70%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,995.15 1.52%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,553.14 0.51%
polkadot
Polkadot (DOT) $ 8.88 2.97%
chainlink
Chainlink (LINK) $ 18.13 1.79%
bitcoin-cash
Bitcoin Cash (BCH) $ 511.76 1.18%
weth
WETH (WETH) $ 3,378.46 1.18%
sui
Sui (SUI) $ 3.41 1.61%
near
NEAR Protocol (NEAR) $ 7.08 9.56%
pepe
Pepe (PEPE) $ 0.00002 3.41%
leo-token
LEO Token (LEO) $ 8.64 0.08%
litecoin
Litecoin (LTC) $ 96.70 4.59%
aptos
Aptos (APT) $ 12.33 5.47%
uniswap
Uniswap (UNI) $ 10.91 0.68%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,556.91 1.39%
hedera-hashgraph
Hedera (HBAR) $ 0.142008 6.01%
internet-computer
Internet Computer (ICP) $ 11.36 3.89%
usds
USDS (USDS) $ 1.00 0.19%
crypto-com-chain
Cronos (CRO) $ 0.187198 5.33%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.56097 3.95%
ethereum-classic
Ethereum Classic (ETC) $ 28.66 4.84%
render-token
Render (RENDER) $ 8.02 0.98%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.50 0.69%
bittensor
Bittensor (TAO) $ 530.72 1.35%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
kaspa
Kaspa (KAS) $ 0.152374 0.84%
whitebit
WhiteBIT Coin (WBT) $ 24.45 1.20%
arbitrum
Arbitrum (ARB) $ 0.852837 3.65%
dai
Dai (DAI) $ 1.00 0.09%
vechain
VeChain (VET) $ 0.042989 0.32%
bonk
Bonk (BONK) $ 0.000046 3.85%
blockstack
Stacks (STX) $ 2.28 7.79%
filecoin
Filecoin (FIL) $ 5.61 5.46%
okb
OKB (OKB) $ 56.31 4.24%
cosmos
Cosmos Hub (ATOM) $ 8.62 6.66%
mantra-dao
MANTRA (OM) $ 3.68 1.64%