FCA To Produce Masks for COVID-19 Fight
Helping in the fight against the COVID-19 pandemic, Fiat Chrysler Automobiles (FCA) has said it will manufacture and donate at least one million protective face masks per month for those on the front line.
FCA’s CEO, Mike Manley, said “The company will start manufacturing face masks in the coming weeks with initial distribution across the United States, Canada and Mexico”.
FCA is also supporting increased production of ventilators for the treatment of patients with severe pulmonary disease.
COVID-19 is halting other manufacturing work in the US. Transmission supplier BorgWarner has said it will temporarily suspend operations at key facilities as demand from OEMs in North America and Europe falls. Car and truck production by OEMs represents roughly two-thirds of BorgWarner’s output.
Both BW and General Motors have said they are unable to forecast earnings for the year because of the pandemic.
GM has suspended manufacturing operations until at least the end of March and says it will draw down $16 billion from its revolving credit facilities “to preserve financial flexibility in light of current uncertainty in global markets”.
“The funds will supplement the company's strong cash position,” GM says.
Across the Atlantic, Aston Martin has suspended production until at least April 20, announcing it is shutting down its Gaydon manufacturing operations in line with the latest government instructions to prevent the spread of COVID-19.
Others to halt production in the UK include JLR, Bentley, BMW, Toyota, Honda, Nissan and Vauxhall.