Ford’s (F.N) Brazilian unit announced on Friday that it had secured an agreement with the government of Bahia state to take ownership of a plant facility that had been closed since 2021.

The manufacturer stated that the agreement will offer “compensation in amounts compatible with the market,” but did not specify how much.

Chinese electric vehicle manufacturer BYD has shown interest in the complex, located in the Camacari industrial park. The automaker has since at least mid-2022 been trying to reach a deal with Ford and the Bahia government to acquire the asset.

BYD said in a statement that it “continues with the planning to invest in the Camacari industrial park, maintaining the necessary negotiations with the Bahia government.”

It was not immediately clear whether the industrial unit mentioned by the company involves the Ford area.