VWAGY - Tesla GM Ford Supply Chain Concerns: Baltimore Port Closure 'Going To Have An Impact' | Benzinga
Tesla Inc (NASDAQ:TSLA), Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) were all hands on deck to find alternative shipping routes on Wednesday after a bridge collapse caused the shutdown of the Port of Baltimore.
Ford and GM said they expected minimal impact, although the East Coast port is the biggest handler of cars, trucks and farming equipment in and out of the U.S. Tesla also ships its European exports through the port, but did not comment on how the closure will affect its trade.
“It's too early to say what impact this incident will have on the auto business – but there will certainly be a disruption,” said John Bozzella, president and CEO of Alliance for Automotive Innovation, in a statement.
He added: “Baltimore is the No. 1 automobile port in the U.S., and we're in touch with federal officials to help them understand the scale of automotive operations there.”
Ford Chief Financial Officer John Lawler told Bloomberg TV: “It's a large port with a lot of flow through it, so it's going to have an impact.”
He added: “We'll work on the workarounds. We'll have to divert parts to other ports along the East Coast or elsewhere in the country.”