Daimler Resumes China Production After Losing USD57.4 Million a Day
Zhang Yushuo
DATE:  Feb 13 2020
/ SOURCE:  yicai
Daimler Resumes China Production After Losing USD57.4 Million a Day Daimler Resumes China Production After Losing USD57.4 Million a Day

(Yicai Global) Feb. 12 -- German carmaker Daimler has resumed manufacturing at its Beijing after a coronavirus shutdown was costing the firm CNY400 million (USD57.4 million a day).

The factory began production on Feb. 10, Chief Executive Ola Kaellenius said during the firm's fourth-quarter earnings call, adding that it was still too early to tell just how badly the novel coronavirus from Wuhan will affect Daimler's business.

Many local governments have been pushing factories to delay their return to work following the Chinese New Year holiday, which was meant to end on Jan. 30.

Beijing Benz, a joint venture between Daimler and local automaker BAIC Motor, has been pushing authorities in Tianjin, home to many of its parts suppliers, to allow 19 parts makers in the region to resume production. It claimed it could not re-open its own factories without them, as it only had the materials in stock for one day of production.

These parts suppliers have not yet resumed production and the Tianjin government has not said when they can re-open, the Guancha Syndicate cited an inside source as saying on Feb. 10.

There had been 107 confirmed novel coronavirus infections in Tianjin, two deaths and 10 recoveries, as of this morning.

Editor: James Boynton

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Keywords:   Mercedes Benz,NCP