Reuters Insider - GM, Ford in talks to join coronavirus relief efforts

Major Holdings

19/03/2020 05:48

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Source: Reuters Insider

Description: Major U.S. automakers General Motors and Ford are in talks with
the White House about making medical equipment to support coronavirus relief
efforts. Gloria Tso reports.
Short Link: https://tmsnrt.rs/38Y6ib3

Video Transcript:

Major US automakers GM and Ford are in talks with the White House about making
medical equipment. The companies say they spoke to officials about how they
could help make ventilators and other gear that may be needed to help fight
the Coronavirus outbreak. The Wednesday announcement comes just as the
Detroit-based companies confirmed that they would be shutting down US
factories. White House Economic Adviser Larry Kudlow told Fox News he spoke to
GM CEO Mary Barra about the idea. That came after GM announced that it would
suspend North American production through March 30. And Ford said on Wednesday
that it “stands ready to help the Administration in any way we can,
including the possibility of producing ventilators and other equipment”.
On Fox, Kudlow praised the idea of auto workers producing medical equipment
when things are otherwise at a standstill. During World War II, automakers
like GM and Ford repurposed their factories to build tanks, planes, and other
military equipment supporting the war effort, earning Detroit the nickname
“arsenal of democracy”. However, it remains unclear how long it
might take these companies to build complex pieces of medical equipment like a
ventilator. Costing thousands of Dollars per unit, ventilators are used to
make it easier for people with respiratory difficulties to breathe. Countries
around the world are worried about running out of ventilators which are needed
to treat patients who are critically ill, suffering from COVID-19