The top headlines for FOX Business Flash on March 21st are:
Ford’s production in Europe has been curtailed by the combined effects of the war in Ukraine and the ongoing shortage of semiconductor chips.
The Cologne plant in Ford, Germany, celebrated its 90th anniversary in 2021. (Photo Alliance by Oliverberg / Getty Images)
The car maker has announced that it is idling two German plants due to chip supply issues and has stopped new orders for two models manufactured in Spain.None of the affected vehicles have been exported to the United States
Jim Farley, Ford’s president and chief executive officer, says automakers are doubling EVs and domestic investment.
Ford was also hit by a temporary closure of the Volkswagen plant in Poland, which supplies the Tourneo Connect minivan.
Volkswagen manufactures several van models at its facility in Poznan, Poland. (Bartek Sadowski / Bloomberg via Getty Images)
| Ticker | safety | last | Change | change % |
|---|---|---|---|---|
| F | Ford Motor Co., Ltd. | 17.20 | +0.72 | + 4.36% |
“We continue to work with VW’s partners to monitor the situation daily and we need to talk more about this at a later date,” Ford told Reuters.
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Details Volkswagen’s manufacturing issues were not announced, but VW Group brands, including Porsche, and several other automakers rely on some parts manufactured in and around Ukraine. And lost some production to adjust the supply chain.