The White House canceled an announcement planned for Wednesday on a proposed venture between General Motors and Ventec Life Systems to build necessary ventilators amid the coronavirus outbreak, the New York Times first reported and Axios confirmed.
What we know: The announcement was called off to buy more time for the Federal Emergency Management Agency to assess whether the estimated cost of more than $1 billion was too expensive, and how many ventilators would be produced. Per the Times, the deal could still happen, but government officials are currently looking at other proposals.
