Ford announced today (18) it has signed a contract to sell its Taubaté plant to firm São José Desenvolvimento Imobiliário. The deal should be finalized following the approval of the Administrative Council for Economic Defense (CADE).
The entire sale process should be concluded in 60 to 90 days, the auto maker declared.
Ford announced in early 2021 the end of its activities in Brazil, after more than a hundred years assembling vehicles in the country.
In a note at the time of the announcement, the company cited, among other factors, the impacts caused by the pandemic of the novel coronavirus, which “amplifies the persistent idle capacity of the industry and the reduction of sales, resulting in years of significant losses.”
In February 2021, the Procon Foundation of São Paulo and Ford signed an agreement in which the company committed to maintain consumer assistance in the country, with sales, services, technical assistance, and the provision of spare parts and warranty.
Source: Agência Brasil