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GM Plans To Develop 30,000 Ventilators To Treat Coronavirus Patients

GM plans to build 30,000 ventilators to treat coronavirus patients. Federal officials announced Wednesday that General Motors will produce 30,000 ventilators to support the U.S. government fight against coronavirus pandemic.

According to the Department of Health and Human Services, a ventilator production contract is part of the Defense Production Act. On Thursday, after receiving the letter from Democratic lawmakers, President Donald Trump invoked the Defense Production Act.

Federal officials revealed that GM will build and deliver the ventilators to the U.S. government by the end of August. GM, who started working with Washington-based Seattle-area ventilator maker Ventec Life Systems on March 18, will deliver the first 6,132 ventilators by June 1. a GM spokesman said that the company will start the production next week.

GM announced its contract after American automaker Ford said it will produce 50,000 ventilators by July 4 for coronavirus patients in partnership with GE Healthcare. Ford also said that it will start production later this month.

GM’s stocks climbed 1.8% in premarket trading, while this year, the share is down 41.8%.

The announcement noted that the cost of each ventilator will be $16,000 which is below the market price of $50,000 previously reported by The New York Times.

Trump tweeted, “As usual with ‘this’ General Motors, things just never seem to work out,” adding, “They said they were going to give us 40,000 much-needed Ventilators, ‘very quickly’. Now they are saying it will only be 6000, in late April, and they want top dollar. Always a mess with Mary B. Invoke ‘P’.”

 

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