Toyota has been forced to stall production in Japan, after a blast at one of its affiliated steel factories. The world’s largest automaker will halt production for one week, between February 8 and 13, at all car assembly plants in Japan.
Toyota issued a statement that the blast at Aichi Steel Plant on January 8 has hit production of steel that is used in auto parts including engine, transmission and chassis. The company is looking at procuring it from other steel makers.
The company produced close to 40 lakh cars in Japan last year, 46 per cent of which were exported. The statement also clarified that the stoppage will not affect any other Toyota facility outside of Japan. Toyota believes that the production will be back on track from February 15.
This new doesn’t seem to have affected Toyota too baldy, in fact the market value of its shares went up by 1.8 per cent today.
