HomeIndustriesFord Secures Ownership Of Previously-Shut Brazilian Factory Complex

Ford Secures Ownership Of Previously-Shut Brazilian Factory Complex

The Brazilian unit of Ford Motors Co confirmed that it has reached an agreement with the government of Bahia state in Brazil whereby the auto manufacturer will receive ownership of a factory complex located in the Camacari industrial park that was shut down in 2021.

Ford revealed that it would be compensated with “an amount compatible with the market” as a result of the agreement. The company did not disclose the exact amount.

Chinese electric vehicle manufacturer BYD has exhibited an interest in the complex since mid-2022. The company has repeatedly attempted to engage with Ford and the government of Bahia to negotiate the acquisition of the complex.

BYD revealed its continued interest in the complex in a statement explaining that the company “continues with the planning to invest in the Camacari industrial park, maintaining the necessary negotiations with the Bahia government.”

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