DETROIT -- Ford Motor Co. on Thursday mentioned it was suspending its dividend and withdrawing earlier monetary steerage amid the coronavirus pandemic. 

The automaker additionally mentioned it should borrow the full unused quantities towards two traces of credit score: $13.four billion below its company credit score facility and $2 billion below its supplemental credit score facility. 

Ford mentioned the cash from these borrowings can be used to offset the short-term working capital impacts of the coronavirus-related manufacturing shut downs and to protect Fords monetary flexibility. Ford mentioned earlier this week it could idle all North American vegetation till March 30, and likewise introduced plant closures in continental Europe. 

“Like we did within the Nice Recession, Ford is managing via the coronavirus disaster in a manner that safeguards our enterprise, our workforce, our clients and our sellers throughout this important interval,” Ford CEO Jim Hackett mentioned in an announcement.  â€œAs Americas largest producer of automobiles and...