"We'll Be Dealing With This For A While": Ford CFO Says Supply Constraints Could Continue Into 2022"

 Source:

https://www.zerohedge.com/markets/well-be-dealing-while-ford-cfo-reaffirms-supply-constraints-could-continue-2022

"Ford's CFO John Lawler made comments yesterday that continue to raise the question of how long supply chains will be broken.

Lawler said yesterday that supply constraints could continue into 2022 and said "we'll be dealing with [supply chain issues] for a while".

The comments came during a CNBC interview where he addressed the company's plans to move further into the EV space with the company's $30 billion spending plan.

When fielding questions about moving further down the supply chain, Lawler commented:
   "We're definitely going down into the supply chain.

We're looking at securing our capacity and then working back up through the supply chain."

He continued:
   "You're seeing that in semiconductor chips, but we need to look at memory chips, we need to look at batteries."

"We'll even look at vertical integration if we need to," he says.

"We're learning from the situation and making adjustments.

I think we'll have a much better approach moving forward."

Recall, Lawler said late in October that Ford had plenty of cash to do its business with:
   “We are not capital constrained.

What it reflects is the strength of our business 

. . . We can fund all of our growth initiatives.”

He continued, talking about EVs benefit to the financial side of the business:

"That's providing us the financial flexibility to fully fund our plan and all of our other capital needs.

We also are focused on total shareholder returns, not only appreciating stock price but also the dividends."

Despite the chip shortage, the company plans on launching its F-150 Lightning, the all-electric version of Ford’s F-150 pickup truck, in coming months.

Executives said the company was in "final preparations" for the launch.

More than 160,000 of the F-150's have been reserved.
(A $100 refundable deposit publicity stunt.  Ye Editor)

“Semiconductor availability remains a challenge, but markedly improved from the second quarter,” Ford commented in late October.

But, at the time, Lawler said of the semi shortage that “the constraints on the chips will remain fluid through 2022, and they could extend into 2023”. "