: Ford in talks to sell plant in Germany to China-based EV maker, WSJ reports
Shares of Ford Motor Co. F slipped 0.6% in premarket trading, after rallying 5.1% over the past two sessions, after The Wall Street Journal reported the automaker was in talks to sell a manufacturing plant in Germany, while Bloomberg reported the company was planning to cut 3,200 jobs in Europe. The WSJ report said Ford was in talks with China-based electric vehicle maker BYD Co. BYDDYHK:1211 over the sale of the plant in Saarlouis, Germany, where Ford produces Focus model vehicles and production is scheduled to end in 2025. Ford has also gauged interest from around 15 investors, the WSJ report said. Separately, Bloomberg reported that Ford’s job cuts, which will primarily be in Germany, followed reductions in the U.S., and come as Ford cuts costs as it shift toward EVs. Ford’s stock has tacked on 2.6% over the past three months through Monday, while the S&P 500 SPX has gained 5.9%.
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