Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
Visa to Move European Headquarters to London’s Canary Wharf 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Proxy Advisors Urge Vote Against ANZ’s Executive Pay Report Amid Scandal Fallout 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Ford will be cutting its production and temporarily shutting down a number of its plants in the U.S. and Canada. The main reason for the move is the ongoing global chip shortage that apparently has yet to be solved.
Ford is really feeling the effects of the prolonged semiconductor shortage now and it was left with no choice but to reduce assembly works as the chips are an important part of its vehicles. The American automaker issued the notice of plant shutdowns and slash on production just a day after President Joe Biden visited the company’s Rouge Electric Vehicle Center, as per Fox Business.
List of plant locations to shut
The media outlet was able to obtain the internal memo containing the announcement of temporary plant closures. Based on the note, Ford facilities in seven locations will be shut and begin the reduction of operations.
Included in the list are the Chicago assembly plant (to close in the week of May 31 and operate on a reduced schedule in the week of June 7), the assembly plant in Flat Rock (down the weeks of May 31 and June 7), the truck facility in Dearborn and truck line in Kansas assembly plant (down the weeks of May 31 and June 7 but will operate on a reduced schedule the week of June 14).
The plant in Mexico will be down the weeks of June 21 and June 28 while the one in Kentucky will be down starting the week of May 31 until the week of June 28. The assembly complex in Canada will be shut starting the week of May 31 until June 21 and lastly, the assembly plant in Ohio will only make Super Duty Chassis cabs and Medium Duty trucks in the weeks of May 31, June 7 and June 14.
The affected Ford models
The vehicles that will be impacted by the temporary plant closures are the Ford Mustang, Escape crossover, F-150 pickup trucks and Bronco Sport SUV. At any rate, the company is aware that it will take a while before the chip supply could return to normal.
“Our teams continue making the most of our available semiconductor allocation and will continue finding unique solutions to provide as many high-quality vehicles as possible to our dealers and customers,” Ford Motor said in an emailed statement to CNBC.
