The Wall Street Journal reported that Ford Motor Co. is in talks with Chinese electric car maker BYD Corp. about selling a manufacturing plant in Germany, and the terms of the deal, including the price, are not yet known.
Ford management officials in Germany plan to travel to China next week to discuss the possible sale of the Salluis plant, where production is scheduled to end in 2025 and where Ford builds its Focus compact model.
People familiar with the matter said negotiations are still in the preliminary stages and there is a possibility that the deal could fall through. Ford is evaluating the interest of about 15 potential investors, including manufacturers such as BYD, as well as financial investors working with the manufacturer.
The German IG Metall union said on Jan. 23 that Ford plans to cut about 3,200 jobs in Europe, including as many as 2,500 product development positions and 700 administrative positions, with the German region most affected, Reuters reported earlier.