Ford reaches deal to move industrial unit to Brazil’s Bahia state By Reuters

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<span>© Reuters. FILE PHOTO: Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. REUTERS/Wolfgang Rattay/File Photo</span><br />
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<p>SAO PAULO (Reuters) – Ford’s Brazilian unit on Friday said it reached a transfer agreement with the government of Bahia state to give it ownership of a factory complex closed since 2021.</p>
<p>The automaker said the agreement will provide it with “compensation in amounts compatible with the market,” but did not disclose an amount.</p>
<p>Chinese electric vehicle manufacturer BYD has shown interest in the complex, located in the Camacari industrial park. The automaker has since at least mid-2022 been trying to reach a deal with Ford and the Bahia government to acquire the asset.</p>
<p>BYD said in a statement that it “continues with the planning to invest in the Camacari industrial park, maintaining the necessary negotiations with the Bahia government.” </p>
<p>It was not immediately clear whether the industrial unit mentioned by the company involves the Ford area. </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/ford-reaches-deal-to-move-industrial-unit-to-brazils-bahia-state-3152884">Source link </a></p><p>The post <a href="https://forextraderhub.com/ford-reaches-deal-to-move-industrial-unit-to-brazils-bahia-state-by-reuters.html">Ford reaches deal to move industrial unit to Brazil’s Bahia state By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>

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