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Ford F-150 truck maker is in advanced talks to buy a key partner in its US-China trade war

July 26, 2021 Comments Off on Ford F-150 truck maker is in advanced talks to buy a key partner in its US-China trade war By admin

The company is in talks with its main Chinese partner to buy the company’s LSF engine business, a source close to the deal told Reuters on Tuesday, as it seeks to expand its market dominance in the global market.

The acquisition would add Ford to a growing list of US auto manufacturers, which have been in the race to buy engines from China, after it signed a deal in 2013 to buy General Motors’ engine business.

Ford, which also sells a diesel engine, has been buying Chinese components and engines for decades.

The deal is subject to regulatory approval.

Ford’s LSM engine business makes diesel engines, while the LSF is a direct-injection, direct-compression-based engine that Ford is building for China.

Ford shares closed at $1.3551 in Tuesday’s close on the New York Stock Exchange.

The company reported a loss of $3.2 billion in the latest quarter.

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