GM awarded $489M contract to build 30,000 ventilators

General Motors will build 30,000 ventilators for the national stockpile under a $489.4 million contract with the federal government, CNBC reported. 

The contract is the first under the Defense Production Act, which President Donald Trump invoked March 27. 

Under the contract, GM will deliver all of the ventilators to the government by the end of August.  The first 6,123 to be delivered by June 1. 

GM said it is not profiting from the contract, and production is expected to begin next week, according to CNBC

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