Ford will suspend production in India, South Africa, Thailand, Vietnam

Ford will suspend production in India, South Africa, Thailand, Vietnam

March 24, 2020 0 By autotimesnews

Representatives of Ford Motor Co. said Monday that the company was temporarily halting the production of cars and engines in its factories due to an increase in the number of patients with coronavirus.

The report said that the Indian brand company was stopped on March 21, after which other enterprises will follow. Temporary downtime will last for several weeks.

“We continue to take additional safety measures in real time, temporarily stopping production at our sites in international markets,” said Mark Owdenden, president of International Markets Group.

Ford, along with General Motors and Fiat Chrysler, said last week they would temporarily suspend production in North America due to the risks associated with coronavirus. The automaker also suspended production at its plants in continental Europe.

Ford also switched to fundraising last week, receiving about $ 15.4 billion from two credit lines and suspending dividend payments. The company’s analysts abandoned their financial forecast for 2020 and said that the money will help to cope with the problem of capital reduction caused by the suspension of production.