Market Chatter: Fire Breaks Out at Hyundai Mobis' India Plant; Shares Decline 4%
A fire broke out at auto parts maker Hyundai Mobis' (KRX:012330) Chennai plant in southeastern India Sunday afternoon, destroying the firm's automotive electronics components manufacturing facility, Yonhap News reported Monday.No personnel were harmed in the incident.The fire is expected to only lead to some temporary issues in vehicle production, Hyundai Motor's (KRX:005380) Indian subsidiary said. The carmaker is currently evaluating the damage with Hyundai Mobis and looking into other suppliers and alternative measures to ensure a steady supply chain and subdue operational issues, according to Yonhap News.Shares of Hyundai Mobis and Hyundai Motor fell over 4% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
