The automaker said it will reopen its Hermosillo factory in Mexico with one shift April 6 and resume production at select factories in the U.S. on April 14.

The automaker did not offer a new date when production would resume. GM said it would continue to reevaluate its production timeline.

The automaker is also tapping two lines of credit, raising an additional $13.4 billion in cash under a corporate credit facility and another $2 billion under a supplemental credit facility. 

GM and Fiat Chrysler said the shutdowns will begin today, while Ford’s will take place Thursday. Other automakers are following suit throughout North America as coronavirus fears spread.

The automaker agreed to award new COO Jim Farley a stock grant worth $2.5 million should someone else eventually succeed Jim Hackett, CEO since May 2017.

The ban will extend until at least March 27 but could be extended as Ford reevaluates the situation weekly.

The newly promoted COO says the automaker must fix warranty and launch issues, accelerate its connectivity efforts and grow opportunities with electric and autonomous vehicles.

Jim Farley, who becomes Ford's chief operating officer on March 1, will have a challenging task as he attempts to steer the automaker through a transformation at a time when the company is under intense pressure to deliver profits.

Ford said the changes are meant to accelerate the automaker's transformation into a higher-growth, higher-margin business.

Ford made a quarterly global loss but swung to profit in Europe as its restructuring in the region, including eliminating jobs and closing plants, paid off.

Tesla said 2019 was a turning point for the company after it achieved strong cash generation through persistent cost control across its business.

Ford said the "remeasurement loss" on pension and retirement liabilities is expected to reduce its quarterly net income by about $1.7 billion, although it will not impact its total adjusted earnings.

Cadillac President Steve Carlisle said the brand will change its naming convention for the EVs that will dominate its lineup by 2030.

Tesla's unveiling of its electric pickup was marred when its side windows made from armored glass shattered during a strength demonstration.

The company's executive chairman, a noted Mustang collector, said the Mach-E earned the pony logo on the grille with its impressive performance dynamics.