Ford to suspend production in South Africa because of coronavirus
Ford Motor Co said on Monday it would temporarily shut down vehicle and engine production at its factories in South Africa, India, Thailand and Vietnam in response to the coronavirus.
"We are continuing to act in real time and taking added safety measures by temporarily halting production at our manufacturing sites in the international markets," International Markets Group President Mark Ovenden said.
Last week, Ford moved to hoard cash, drawing down $15.4 billion from two credit lines and suspending its dividend. It has also abandoned its 2020 financial forecast and said the cash would be used to deal with a squeeze on capital caused by shutdowns in production.
The No. 2 US car maker last week suspended vehicle and engine production at manufacturing sites in continental Europe. It also decided to temporarily stop production from March 23 at its London site and from the end of March 25 at its Welsh facility
Ford South Africa's Silverton Assembly Plant (Pretoria) and Struandale Engine Plant (Port Elizabeth) will both close after March 27.