CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
Australian Household Spending Dips in December as RBA Tightens Policy 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Hyundai Motor Co. announced on Tuesday, May 25, that it will be halting operations in its plant in India. The South Korean carmaker cited the rapid spread of the COVID-19 infection as the reason for its decision.
As per Yonhap News Agency, Hyundai Motor is temporarily shutting down its factory in Tamil Nadu and it will remain closed for five days starting on May 25. This information was confirmed by the company’s spokesperson via phone interview.
Situation in India pushed Hyundai to close
It was revealed that the decision was made after two of the plant workers were infected with coronavirus and subsequently, several workers started a demonstration to let the company know about their fears of getting sick as well. Their sit-in apparently got Hyundai’s attention and decided to suspend work for a few days.
India is considered the worst-hit country in the world for COVID-19 and among its states, Tamil Nadu, where Hyundai’s plant is located is one of the most affected by the pandemic. The government already ordered factories to close, with few exemptions, until the end of this month.
In any case, in Hyundai’s other plants overseas, some have shut down as well but for a different reason. The company is also affected by the global chip shortage but it is expecting to return to normal as chipmakers ramp up their productions to address the production issues of many companies worldwide.
Hyundai workers’ unrest amid the pandemic
Workers of Renault, Nissan Motor Co. and Hyundai have staged protests in India as the COVID-19 situation in the country is getting worse instead of getting better. This is why the employees are upset and uneasy at the workplace.
For that, Reuters reported that they are asking for companies to grant their safety demands so they can be protected from the highly infectious disease. A union stated that their requests were not met, so they are now planning to go on strike.
Then again, before things could get into this stage, Hyundai already issued a work suspension for its plant in Tamil Nadu and sent its staff for a 5-day leave. "The management agreed to close the plant after workers expressed concerns over safety after two employees succumbed to COVID," Hyundai Motor India workers union president, E Muthukumar, told Reuters.
