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Reuters
Reuters
Business

Lula's China trip to promote BYD takeover plan for Brazil Ford factory

BYD Ford Brazil Luiz Inacio Lula da Silva China Bahia
FILE PHOTO: The logo of BYD is pictured at the 2022 Paris Auto Show in Paris, France October 17, 2022. REUTERS/Stephane Mahe

Brazilian President Luiz Inacio Lula da Silva heads to China next week with plans to promote Chinese manufacturer BYD's takeover of a former Ford factory in northeast Brazil, according to sources with knowledge of the matter.

The deal hinges on a final agreement with Ford Motor Co, which still owns the plant in Bahia state despite halting production in Brazil in 2021, sources told Reuters.

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