Ford plans to reopen its global manufacturing plants in Q2 but said it has enough cash on hand to maintain plant closures through September. The only active auto production Ford is doing right now is at its joint ventures in China, where Covid-19 impacts have moderated. The remainder of the company's global operations is closed.
Ford's North American auto plants have been shuttered since mid-March, when it and the other major US-based automakers (General Motors and Fiat-Chrysler Automobiles) announced plant closures for an initial two weeks due to coronavirus concerns. In Europe, Ford's auto plants are closed through 4 May.
Many steel market participants have said automakers would need to restart by early May for the US steel industry to rebound. All three US-based automakers have extended shutdowns from original planned restart dates. Fiat-Chrysler is the only US-based automaker to give a firm date for turning its plants back on, which it plans to do on 4 May.
