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GE, Ford sign $336M contract to make ventilators

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The federal government awarded a $336 million contract to General Electric and Ford to make ventilators.

The contract through the Defense Production Act calls on the production of 50,000 ventilators. They're scheduled to be made by July 13.

Ventilators are slated to be made for $6,720, below the $16,300 per unit in a recent contract with General Motors and Ventec Life Systems. Those companies were awarded a $489.4 million contract through the act.

Read more from CNBC.

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