ZeroHedge
By Tyler Durden – August 16, 2022
Update (2130ET): Add Toyota Motor Corp. and Contemporary Amperex Technology Co., the world’s largest battery maker, to the growing list of companies shutting down factories in China’s Sichuan province as a drought-induced power crisis worsens, according to Bloomberg.
Toyota closed its plant in the provincial capital of Chengdu until Saturday, a company spokesperson said, while Contemporary Amperex halted operations at its lithium battery factory in Yibin.
Sichuan is one of China’s most populated provinces, with 80 million inhabitants, and is home to a major manufacturing hub heavily reliant on hydropower.