CATL, Toyota Shut Plants in Southwest China as Power Crisis Worsens

(Bloomberg) — Toyota Motor Corp. and Contemporary Amperex Technology Co. Ltd., the world’s top battery-maker, are closing plants in China’s Sichuan province as a drought-induced power crisis worsens.

The Japanese automaker shut a factory in the provincial capital of Chengdu and will keep operations suspended until Aug. 20, a company spokesperson said. Contemporary Amperex halted activity at its major lithium battery base in Yibin through the same date, a local business publication reported.