Ford CEO Jim Farley said that a rare earth minerals shortage is hurting production and caused the automaker to temporarily shut down one of its plants last month, according to an interview with Bloomberg TV.
Rare earth minerals, which are a set of 17 metallic elements, are integral to automobile production, and enable features like windshield wipers, seat belts and speakers to function. About 90% of the U.S.'s rare earth minerals come from China, the world's largest producer of rare earths, according to data from the Geological Survey.