REUTERS: General Motors Co said on Tuesday it has started mass production of ventilators needed to treat severely sick coronavirus patients and would deliver the first batch of the medical equipment to the United States government this month.
Last week, the Department of Health and Human Services awarded GM a contract worth US$489.4 million to make 30,000 ventilators by the end of August.GM, which is working with ventilator firm Ventec Life Systems to produce the medical equipment, said it will ship more than 600 ventilators in April. It added that it expects to fill nearly half the order by the end of June and the full order by August-end.
GM's shares were little changed in afternoon trading. The stock has fallen more than 37 per cent so far this year, as coronavirus-related lockdowns weigh on automobile sales.
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