Jan 24 (Reuters) – Ford Motor Co is in talks with Chinese language electrical automobile maker BYD Co about promoting a producing plant in Germany, the Wall Avenue Journal reported on Tuesday, citing folks conversant in the matter.
The plant being mentioned is the Saarlouis plant, the place automobile manufacturing is predicted to finally finish in 2025, the WSJ report mentioned, including that talks are nonetheless in a preliminary stage and should come to go finally.
Ford, which produces its Focus compact mannequin on the plant, didn’t instantly reply to a Reuters request for remark.
Rising prices for electrical automobile battery supplies and the anticipated slowdown within the US and European economies are placing strain on carmakers to chop prices.
Individually, Ford mentioned on Tuesday that it plans to determine by mid-February on what number of jobs can be reduce in Europe after saying plans to chop as much as 3,200 jobs at a manufacturing facility within the German metropolis of Cologne.
The report mentioned Ford was additionally gauging curiosity from about 15 potential traders, however the phrases of the deal couldn’t be discovered. (Reporting by Kannaki Deka in Bengaluru; Modifying by Sherry Jacob-Phillips)