Ford, GM reportedly discussing funding for bankrupt First Brands

Group 1 - Ford and General Motors are negotiating a financing deal to assist First Brands Group, which is under Chapter 11 protection, in securing liquidity through advance payments for expected deliveries [1][2] - First Brands filed for bankruptcy in September with $12 billion in debt and has accused its founder of fraud, which he denies [2][3] - The company owns 25 automotive brands and is rapidly consuming cash during its restructuring process, warning it could run out of funds by early February without additional support [3] Group 2 - First Brands plans to wind down certain US operations, including its Brake Parts and Autolite units, while seeking asset sales and new funding [4] - The negotiations occur amid challenges in the US automotive supply chain, including tariffs, competition from China, and slower growth in electric vehicle sales [4] - Ford is reducing its electric vehicle program scale while increasing focus on hybrids, considering sourcing batteries from BYD for its manufacturing sites outside the US [5]