Groupe psa its china factories are closed for the

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Groupe PSA Its China factories are closed for the holiday and the company isn’t allowing employee travel to China The maker of Peugeot cars and other brands said it will evacuate its expatriate staff and their families from the Wuhan area. A total of 38 people will leave. Nissan Planned to evacuate most of its expatriates and their family members from Wuhan. Tesla Inc. and Nio Inc. About 8 million cars were sold last year in the roughly 40 Chinese cities that have 10 or more diagnosed coronavirus cases, or 36.8% of total retail volumes in the country, Bernstein analysts estimate. Those cities accounted for 82.5% of Tesla’s retail volumes, and 68% of NIO’s in China, according to Bernstein analysts. “The latter looks especially vulnerable to a prolonged slump in EV sales,” they said. General Motors Co. Operates a car factory in Wuhan with joint-venture partner SAIC, said the plant has been idle since Jan. 24 for the holiday, and workers are tentatively scheduled to return Monday. The plant produces four models for the Chinese market, contributing about 19% of GM’s total China production, according to Credit Suisse.
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