Ford Contemplating Deal With Chinese Rival BYD As It Seeks To Scale Hybrids: Report
Synopsis
The Wall Street Journal reported on Thursday, citing people familiar with the matter, that the talks between the two companies are continuing and might not culminate in a deal.
Dearborn-based automaker Ford Motor Co. (F) is reportedly in talks with BYD Co. Ltd. (BYDDF) about a potential partnership involving the use of the Chinese player’s batteries in Ford’s hybrid vehicles.
The Wall Street Journal reported on Thursday, citing people familiar with the matter, that the talks are continuing and might not culminate in a deal. The two carmakers are reportedly discussing how a potential partnership would work, and are considering ideas including Ford importing batteries from BYD to non-U.S. factories.
Ford shares edged up 0.4% at the time of writing.
Get updates to this developing story directly on Stocktwits.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.