Ford Motor has said that several of its North American factories will be shut for a few weeks in July and August due to a global shortage of semiconductors. The supply crunch would cost it $2.5 billion this year and halve vehicle production in the second quarter, Michigan-based company had said in April.

World Business Watch: Ford to shut some North American plants for few weeks on chip shortage

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World Business Watch: Ford to shut some North American plants for few weeks on chip shortage