Magna International and VDL Nedcar have joined BYD as possible bidders for the Saarlouis plant in Germany, which will have no new model when Ford ends production of its Focus compact car there in 2025.
Magna International and contract manufacturer VDL Nedcar are interested in taking over Ford Motor Co.'s car plant in Saarlouis, Germany, according to sources familiar with the discussions.
The plant's future has been unclear since last June when Ford picked its factory in Valencia, Spain, to build its next-generation electric vehicles for Europe instead of Saarlouis. Magna builds BMW, Mercedes-Benz, Jaguar, Toyota and Fisker cars at its Magna Steyr factory in Graz, Austria.The acquisition of Saarlouis by a contract manufacturer could be a promising solution for its future, sources said. Magna or Nedcar could use the plant to build combustion engine cars without any major conversion works.
BYD, the world's biggest seller of battery-electric cars and plug-in hybrids, is targeting Europe's growing EV market for expansion.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Magna International says its margins for 2022 will be lower than expectedMagna International says its adjusted earnings before interest and taxes margin is expected to be about 4.3% for 2022
Read more »
The Daily Chase: Competition Bureau appeals Rogers-Shaw deal; Magna cuts 2022 outlook - BNN BloombergCompetition Commissioner Matthew Boswell is getting one last chance to try to scuttle Rogers Communications' planned $20-billion takeover of Shaw Communications, with the Competition Bureau's appeal set to be heard before the courts later this morning.
Read more »
Magna International says margins for 2022 will be lower than expected - BNN BloombergMagna International says its margins for 2022 are expected to come in lower than it forecast.
Read more »
Magna International says margins for 2022 will be lower than expectedCanadian automotive parts company Magna International Inc. says its margins for 2022 are expected to come in lower than it forecast.
Read more »
Rural mayors raise concerns about Ford government housing planHousing Minister defends legislation as a way to cut cost of housing but pledges to make municipalities ‘whole’ if changes affect budget for infrastructure
Read more »