{"id":76036,"date":"2022-02-05T21:59:26","date_gmt":"2022-02-05T18:59:26","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/business\/?p=76036"},"modified":"2022-02-06T10:00:51","modified_gmt":"2022-02-06T07:00:51","slug":"ford-curbs-n-american-production-as-chip-shortage-hits-media","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/business\/2022\/02\/ford-curbs-n-american-production-as-chip-shortage-hits-media\/","title":{"rendered":"Ford curbs N.American production as chip shortage hits: media"},"content":{"rendered":"<p class=\"header\"><strong><span class=\"city\">Washington<\/span>,\u00a0<span class=\"country\">United States, Feb 5 &#8211; <\/span>Major automaker Ford will cut its North American vehicle production next week due to a semiconductor shortage, US media reported Saturday.<\/strong><\/p>\n<p>Ford plans to suspend production of vehicles including the Ford Bronco, the popular F-150 pickup and the new Mustang Mach-E electric vehicle at its plants in Michigan, Illinois and Mexico, according to outlets including CNBC.<\/p>\n<p>Production will be slowed at other facilities in Missouri, Michigan and Kentucky, while overtime will be eliminated at Ford&#8217;s Oakville, Ontario operations in Canada.<\/p>\n<p>The company has yet to respond to queries by AFP.<\/p>\n<p>A shortage of semiconductors &#8212; essential components in new vehicles, and primarily manufactured in Asia &#8212; has impacted automobile production since the beginning of the coronavirus pandemic, causing prices to spike and contributing to surging US inflation.<\/p>\n<p>President Joe Biden, keen to boost American auto manufacturing, wants to bring semiconductor chip production back to the United States and has held several events to promote massive domestic investments.<\/p>\n<p>US lawmakers meanwhile voted Friday to greenlight legislation aimed at jump-starting tens of billions of dollars in such research and manufacturing, countering China&#8217;s growing influence and easing a global shortage of the computer chips.<\/p>\n<p>In late January, high-tech giant Intel announced it would begin construction late this year of two semiconductor factories in Ohio, with the aim of producing chips by 2025. Biden called the $20 billion investment &#8220;historic.&#8221;<\/p>\n<p>Ford returned to profitability in 2021, and on Thursday reported net profit of $17.9 billion. But the manufacturer remains troubled by supply chain problems, and on Friday, Ford shares slumped 9.7 percent on Wall Street.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington,\u00a0United States, Feb 5 &#8211; Major automaker Ford will cut its North American vehicle production next week due to a semiconductor shortage, US media reported Saturday. Ford plans to suspend production of vehicles including the Ford Bronco, the popular F-150 pickup and the new Mustang Mach-E electric vehicle at its plants in Michigan, Illinois and [&hellip;]<\/p>\n","protected":false},"author":12327,"featured_media":18082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"coauthors":[],"class_list":["post-76036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ford curbs N.American production as chip shortage hits: media - Capital Business<\/title>\n<meta name=\"description\" content=\"Washington,\u00a0United States, Feb 5 - Major automaker Ford will cut its North American vehicle production next week due to a semiconductor shortage, 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