Daimler CEO warns against rash actions as virus cases rise

The growing number of confirmed coronavirus cases in Germany has raised questions about the vulnerability of long international supply chains to such an epidemic.

Daimler CEO Ola Kallenius warned against a return to economic nationalism as a response to the crisis.

"These events show how fragile global supply chains are," he told Der Spiegel magazine in remarks published on Saturday. "But a world without global work sharing would be less successful ... We should protect [that success] while checking for vulnerabilities where we can bring more security into the supply chain."

He said Daimler was "gradually ramping up" production again in China after the Chinese New Year stoppage, which had been lengthened because of the coronavirus. But the disease would have an impact on company results.

"We can't yet say what the impact will be, but it is clear that both production and sales will be affected," Kallenius said.