Ford CEO Jim Farley, along with executives from at least 19 other companies, will be heading to the White House on Monday to discuss the ongoing semiconductor chip shortage, per Reuters. The April 12th, 2021 gathering arrives as The Blue Oval reckons with a severely inadequate supply of the crucial components, which recently forced the company to once again pause production at several key facilities, including those responsible for building the 2021 Ford F-150, a key profit-maker for the manufacturer.
As previously reported by Ford Authority, the meeting, now called the “CEO Summit on Semiconductors and Supply Chain Resilience,” is expected to focus on current supply chain issues and discuss ways in which the federal government can address the crisis. In addition to CEO Jim Farley, General Motors CEO Mary Barra will also attend, as will representatives from Stellantis NV, the recently merged entity between FCA and French automaker PSA.
Chip manufacturers and electronic companies with skin in the semiconductor game are also set to attend the meeting, as Taiwan Semiconductor Manufacturing Company, GlobalFoundries, Samsung, Intel Corp, HP, and others are planning to send executives to the upcoming event. White House National Security Advisor Jake Sullivan, National Economic Council Director Brian Deese, and Commerce Secretary Gina Raimondo will also be in attendance.
Although Jim Farley expects the chip crisis to be over by Q3 2021, the current lack of parts is the chief reason why numerous high-volume assembly plants are set to suspend production next week, resulting in a seven day pause that will coincidentally begin on the day of the meeting. The Ford Chicago Assembly plant, Ford Michigan Assembly plant, and the Ford Transit side of the Ford Kansas City Assembly plant will all be down from April 12th to April 16th, 2021, while the Ford Ohio Assembly plant will operate on a reduced schedule.
In addition to those revised production schedules, the workers at the aforementioned plants, plus the Ford Dearborn Truck plant, Ford Flat Rock Assembly plant, and Ford Kentucky Truck plant will have to forgo their traditional two-week summer shutdown vacation period, which normally occurs when plants retool to prepare for new vehicles.