Ford plans to suspend or cut production at 8 factories due to chip shortage, Reuters reports

[Yo_Mama_Been_Loggin]

Ford plans to suspend or cut production at eight of its factories following a slump in its shares, affecting the US, Canada, and Mexico, Reuters has reported.

The automaker warned of a chip shortage that would lead to a decline in vehicle volume in the current quarter – but a spokeswoman told Reuters Friday that the company was expecting vehicle volume to increase significantly in the second half.

Ford's fourth-quarter earnings were lower than expected and the company forecasts a slower recovery through 2022 than its rival General Motors. The news prompted a 12% fall in its stock.

According to Reuters, the factories affected are in Michigan, Chicago and Cuautitlan, Mexico.

https://www.msn.com/en-us/autos/news/ford-plans-to-suspend-or-cut-production-at-8-factories-due-to-chip-shortage-reuters-reports/ar-AATwS28

[SonofBen]

1. There is a more ominous problem in store.

EV's require more chips and the batteries more rare earth minerals.

Electric vehicles require significantly more semiconductor chips than their gas-guzzling counterparts. Whereas an average gas-powered car can have between 50 and 150 chips, some EVs contain thousands of chips.

https://www.dailykos.com/stories/2021/11/30/2066666/-Commerce-secretary-pushes-for-domestic-semiconductor-manufacturing-to-meet-electric-vehicle-goals#:~:text=Electric%20vehicles%20require%20significantly%20more,EVs%20contain%20thousands%20of%20chips.

And we just shut down potential sources of lithium in Nevada and Nickle in Mn.
Materials for batteries.