A Ford Escape sports utility vehicle (SUV) undergoes final inspection during production at the Ford Motor Co. assembly plant in Louisville, Kentucky, U.S., on Tuesday, April 28, 2015.
Luke Sharrett | Bloomberg | Getty Images
Ford Motor and Nissan Motor on Friday confirmed they are cutting vehicle production at plants in the U.S. and Japan due to a shortage of semiconductors, highlighting a growing concern for the global automotive industry in 2021.
Ford will idle an SUV plant in Kentucky next week, while Nissan is reducing production at a plant in Japan. Both companies said they are working closely with suppliers to resolve and monitor the situation for any additional impacts.