Ford, GM And Fiat Chrysler To Shut Down US Factories: Report

Detroit's Big 3 automakers, Ford Motor Company F, General Motors GM and Fiat Chrysler Automobiles FCAU, have agreed to close all of their U.S. factories due to worker fears about the coronavirus, according to the Associated Press.

The companies had already formed a task force, along with the United Auto Workers union, to develop COVID-19 safety protocols for employees of the automakers. So far, Fiat-Chrysler and Ford have confirmed they were suspending production at Detroit-area plants after workers tested positive for the COVID-19 virus.

The automakers are expected to release further details of the closure later today.

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Ford shares were trading down 14.37% at $4.29 at the time of publication. The stock has a 52-week high of $10.56 and a 52-week low of $4.29.

General Motors shares were trading down 20.52% at $16.15 at the time of publication. The stock has a 52-week high of $41.90 and a 52-week low of $15.30.

Fiat Chrysler shares were trading down 13.67% at $6.57 at the time of publication. The stock has a 52-week high of $16.69 and a 52-week low of $6.50.

Photo credit: Dwight Burdette

Posted In: coronavirusCovid-19NewsMedia

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