BYD, one of the most ambitious Chinese automakers, is interested in buying a Ford plant in Germany, according to sources cited by the Wall Street Journal. Reuters also reported on this, noting that 15 companies are ready to buy the plant in Saarlouis.
Sources say Ford’s German bosses will travel to China next week to discuss a possible deal. Ford makes the Focus in Saarluis, but it is not known what will happen to the plant after it stops making cars in 2025.
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It is not yet clear whether anything will come of BYD, as negotiations have not progressed much. BYD produced nearly 2 million cars last year, and if it absorbed the German plant, it would deal a blow as it could quickly increase its market share in Europe.
Among the companies still interested in the plant is Magna International, which assembles cars for other companies and has a plant in Austria.
They are interested in the German plant and investment funds, which will then enter into agreements with other car companies.
Ford Motor Company plans to cut up to 3,200 jobs across Europe and move some product development activities to the United States, German trade union IG Metall said on Monday.
The company wants to cut up to 2,500 jobs in product development and up to 700 in administrative positions, with German plants most affected, IG Metall said.
Workers at the American carmaker’s Cologne plant, which employs about 14,000 people, including 3,800 at a development center in the Merkenich district, were told of the plans at works council meetings on Monday.
Source: Hot News
Mary Robinson is a renowned journalist in the field of Automobile. She currently works as a writer at 247 news reel. With a keen eye for detail and a passion for all things Automotive, Mary’s writing provides readers with in-depth analysis and unique perspectives on the latest developments in the field.