BYDDY - Ford nearing deal to sell German plant - report
2023-06-06 14:35:31 ET
Ford Motor Company ( NYSE: F ) is nearing a deal to sell a plant in Germany, with Chinese manufacturers as lead bidders.
According to Bloomberg , BYD Company ( OTCPK:BYDDY ) and a consortium of smaller Chinese automakers are vying for the facility. Another lead bidder is a “German solar component maker,” per the outlet’s sources. A preliminary agreement is due to be reached by the close of June.
Ford has been working to reduce its footprint in Europe since the start of 2023. This approach has sparked some union backlash .
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Ford nearing deal to sell German plant - report