Toyota has announced that it will halt production at all assembly lines across Japan for an entire week. The shortage is necessary because of a parts shortage that makes completing vehicles impossible.
The Japanese company said Monday the shortfall was caused by an explosion about three weeks ago at a plant operated by one of its suppliers — Aichi Steel.
The company will shut down its plant from February 8 to February 13, Toyota said in a statement.
Based on the company’s nearly 3.2 million vehicles produced in Japan last year, it will lose out on about 60,000 vehicles during the week of halted production.
“Toyota will continue to take any measures necessary to minimize the impact of this incident on vehicle production,” the company said.
Vehicle production outside Japan won’t be suspended, the company says.
Despite the unplanned halt in production, Toyota shares were up around 1.9% in afternoon trade Monday in Tokyo.
Aichi Steel, which has deep ties with Toyota, has said it believes the explosion at its Chita plant on January 8 may have been caused by a gas leak. The company hopes to start using the damaged part of its plant again by the end of March.