Tesla Inc’s factory shutdown has stretched out to at least 12 days, much-needed semiconductors are piling up at manufacturers amid a shortage of truck drivers and bankers are camping in their offices as Shanghai’s COVID-19 lockdown disrupts businesses in the city.
The lockdowns and virus containment measures threaten to slow the nation’s economic growth this year to below the Chinese government’s 5.5 percent target, Bloomberg Economics said.
They also risk further havoc on already stressed global supply chains, with companies from chip giant Semiconductor Manufacturing International Corp (SMIC, 中芯國際) to a South Korean noodle maker caught up in the fallout.
Electric vehicle pioneer