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5/3, 2:25 PM (Source: TeleTrader)
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Ford halts work at Cologne plant over chip shortage - report

The Ford Motor Company is temporarily suspending manufacturing at its plant in Cologne due to the ongoing global shortage of semiconductors, Bild reported on Monday.

According to the newspaper's sources, the employees would work in short-time shifts from May 3 to June 18 and then from June 30 to July 9. In the meantime, the plant will be closed. The full-on production is expected to resume on August 16.

Ford previously suspended work at several of its factories throughout the United States. The issue was reflected in the company's underwhelming first-quarter revenue and a drop in the prices of shares.

Breaking the News / JR