Bosch Halts Production At Two China Plants: Reuters

• German auto parts supplier Bosch has halted production in the Chinese cities of Shanghai and Changchun following COVID-19 curbs, Reuters reported.
• Bosch has closed shutters at a Thermotechnology factory in Shanghai and an automotive components site in Changchun in northeastern Jilin province.
• The report noted two other plants in Shanghai and Taicang city are in closed-loop operations, with the workers in isolation from the society.
• The sudden surge in COVID-19 cases across China has forced the government to impose strict lockdowns to curb the spread, affecting economic activities.
• The report noted companies like Tesla Inc (NASDAQ:TSLA), Volkswagen AG (OTC:VWAGY), and Toyota Motor Corp (NYSE:TM) were among automakers feeling the pinch of the economic restrictions.
• Price Action: TSLA shares are down 0.40% at $972.00 in pre-market on the last check Tuesday.