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F Ford Motor Company

12.28
-0.10 (-0.81%)
18 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Ford Motor Company NYSE:F NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -0.10 -0.81% 12.28 12.38 12.25 12.37 24,011,285 01:00:00

Ford Investor Backs Out, Leaving Future of German Factory in Air

05/10/2023 4:12pm

Dow Jones News


Ford Motor (NYSE:F)
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By David Sachs

 

A pending deal between Ford and an unnamed investor to fund the American carmaker's plant in Saarlouis, Germany, has collapsed, leaving the future of the factory uncertain.

The potential investor pulled out after having signed a nonbinding agreement in June, Ford confirmed Thursday.

"Following a rigorous due diligence process and negotiation, which also included the Saarland government, the investor decided not to go ahead with the project," Ford said.

The factory will stop making the Focus model starting 2025. Ford said it would pursue an alternative plan that includes maintaining and creating 1,000 positions at the factory, and attracting smaller investors for a technology center.

The factory currently provides 4,500 jobs, German business newspaper Handelsblatt reported Thursday.

 

Write to David Sachs at david.sachs@wsj.com

 

(END) Dow Jones Newswires

October 05, 2023 10:57 ET (14:57 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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