DETROIT — A recent article on the Grandprix.com Web site this week said that Ford Motor Co. has put Jaguar Racing and Cosworth up for sale. The two entities are expected to leave Formula 1 at the end of the year unless new buyers can be found.
In related news, Ford’s European operations announced it will close Jaguar’s Brown’s Lane plant in Coventry, U.K., in September 2005.
Both moves are in response to lackluster sales of Jaguar cars in recent months.
If Jaguar Racing and Cosworth are closed down it could mean the loss of about 500 jobs. No numbers were given for job losses related to the plant closure.
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