Mazda seeks to reduce dependence on Chinese supplies after COVID lockdowns – TODAY

TOKYO : Japan’s Mazda Motor Corp said on Friday it would ask its parts suppliers to increase stockpiles in Japan and produce components outside China after COVID-19 lockdowns in Shanghai destabilised supply and hampered production. The request from the Hiroshima-based automaker underscores the vulnerability of sprawling supply chains that have been tested by the pandemic and geopolitical tensions, casting uncertainty over businesses. The Japanese automaker reported on Tuesday an operating loss of 19.5 billion yen (US$144.4 million) for the first quarter of its financial year, due to disruptions resulting from the stringent COVID-19 counter-measures in China. Mazda said it brought…