Jan 15 (Reuters) – Ford is in discussions with BYD to purchase batteries for its hybrid models, the Wall Street Journal reported on Thursday, at a time when the Detroit automaker deals with waning demand for electric vehicles.
The two companies are still discussing how the arrangement would work, the report said, citing people familiar with the matter.
“We talk to lots of companies about many things,” Ford said in a statement. BYD did not immediately respond to a Reuters request for comment.
The deal, if it goes through, would give Ford access to cheaper batteries and advanced technology from one of China’s largest EV makers.
This comes as North American automakers scale back their costly EV push after struggling to keep pace with Chinese rivals, losing out on tax credits and pivoting toward cheaper models and hybrids instead.
Ford had said in December it would take a $19.5 billion writedown and scrap several EV models.
(Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)
