Listed here are your FOX Enterprise Flash prime headlines for March 21.
Ford‘s European manufacturing is being trimmed by the mixed results of the warfare in Ukraine and the continuing semiconductor chip scarcity.
Ford’s Cologne, Germany, manufacturing unit celebrated its ninetieth anniversary in 2021. (Oliver Berg/image alliance through Getty Photographs)
The automaker has introduced that it’s idling two factories in Germany because of chip provide points and has stopped taking new orders for 2 fashions inbuilt Spain. Not one of the affected autos are exported to the U.S.
Ford president and CEO Jim Farley says the auto maker is doubling down on EV and home investments.
Ford has additionally been hit by the short-term closure of a Volkswagen manufacturing unit in Poland that provides it with the Tourneo Join minivan.
Volkswagen builds a number of van fashions at its Poznan, Poland, facility. (Bartek Sadowski/Bloomberg through Getty Photographs)
| Ticker | Safety | Final | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 16.48 | -0.40 | -2.37% |
“We continue to monitor the situation on a daily basis in conjunction with our partners at VW and will have more to say on this at a later date,” Ford advised Reuters.
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Specifics Volkswagen’s manufacturing points weren’t launched, however VW Group manufacturers, including Porsche, and a number of other different automakers depend on some elements constructed inside and close to Ukraine and have misplaced some manufacturing as they alter their provide chains.
