Fiat Chrysler could reopen after coronavirus closed factories
Fiat Chrysler, along with Ford and General Motors, moved to close all U.S. factories last week to slow the spread of COVID-19
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Across the United States, shops and businesses from the restaurant to the entertainment industries have been closing their doors temporarily amid the coronavirus pandemic.
Fiat Chrysler could open back up soon.
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The company, which announced last week that it, along with Ford and General Motors, would close all U.S. factories in an effort to slow the spread of the virus, said in a statement to FOX Business that its U.S. and Canada plants could reopen soon after April 14.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FCAU | NO DATA AVAILABLE | - | - | - |
| F | FORD MOTOR CO. | 11.18 | +0.38 | +3.47% |
| GM | GENERAL MOTORS CO. | 58.52 | +2.85 | +5.13% |
“Plants across the U.S. and Canada, as well as headquarters and construction projects, are intended to remain closed until April 14, dependent upon the various states' stay-in-place orders and the readiness of each facility to return to production,” per the statement.
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Fiat Chrysler “continues to take important steps to help flatten the curve and put the health and safety of our workforce, and the communities where we live and work, first.”
The status of the brand’s Mexico operations will be subject to a separate announcement.
Fiat Chrysler said it continues to work with the United Auto Workers union to expand cleaning and social-distancing protocols that already have been implemented.
Outside of carmakers, many other businesses have been forced shut in the wake of the outbreak, which has prompted the Centers for Disease Control and Prevention to urge people to avoid person-to-person contact and groups of 50 or more for at least eight weeks.
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And amid panic surrounding COVID-19, the stock markets have been on an emotional rollercoaster. To combat potential economic repercussions, President Donald Trump, against the advice of some health experts, said he wants America to get back to business by Easter, or April 12, suggesting some efforts to slow the spread of the will no longer be needed.
Fiat Chrysler’s stock has dropped 40 percent in the last month.