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GM General Motors Company

44.86
0.19 (0.43%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
General Motors Company NYSE:GM NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.19 0.43% 44.86 45.545 44.505 45.03 10,046,012 01:00:00

Trump Lashes Out at General Motors Over Ventilators

27/03/2020 5:19pm

Dow Jones News


General Motors (NYSE:GM)
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By Michael C. Bender 

WASHINGTON -- President Trump said he was ordering General Motors Co. to start making ventilators amid a dispute between his administration and the auto maker over a contract to build the machines.

The president criticized GM and its leadership, saying in a series of Twitter posts that the company had initially said it could supply 40,000 ventilators, but then later said it could only make 6,000 available by late April.

White House officials said the two sides had been discussing a contract worth about $1 billion, but the talks broke down over the timeline for when the machines could be provided.

GM didn't immediately respond to comment.

Mr. Trump suggested that he would invoke the Defense Production Act, or DPA, over the issue, but his social-media posts were unclear.

In a tweet that criticized GM Chief Executive Mary Barra as "always a mess," Mr. Trump included a sentence: "Invoke 'P.'" In a subsequent tweet, he said he was referring to the DPA, a Korean War-era law that he has been reluctant to use during the coronavirus crisis.

Mr. Trump tweeted that GM should reopen its plant in Lordstown, Ohio, to make ventilators, "or some other plant." He also directed Ford to "get going on ventilators, fast!!!"

The president also said the administration had "just purchased" more ventilators, but didn't provide additional detail. He said the companies involved in that deal would be announced later Friday.

 

(END) Dow Jones Newswires

March 27, 2020 13:04 ET (17:04 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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