Ford Motor Co. (NYSE: F) plans to make what it calls a “very substantial investment” in an automobile plant near Bordeaux, France.

The company’s European head Stephen Odell said that the Dearborn, MI-based automaker is in negotiations to take full ownership of the plant and hopes to the sole owner of the plant by the end of 2010. The plant currently has about 700 employees.

Odell, speaking at a press conference in Bordeaux, southwest France, alongside French Finance Minister Christine Lagarde, said that the company is hoping to invest in training and technology at the plant.  “Our intention is to establish a plant that has a very healthy future,” Odell said.

Ford Motor Company (Ford) is a producer of cars and trucks. Ford and its subsidiaries also engage in other businesses, including financing vehicles. It operates under two segments: Automotive and Financial Services. The Automotive segment includes the operations of Ford North America, Ford South America, Ford Europe, Ford Asia Pacific Africa and Volvo. The Financial services include the operations of Ford Motor Credit Company and Other Financial Services. In August 2010, the Company completed the sale of its Swedish Volvo Car unit and related assets to China’s Zhejiang Geely Holding Group Co.

Shares of Ford Motor Co. (NYSE: F) traded down 3.11% during mid-day trading on Tuesday.