LONDON — Billionaires Bernard Arnault and Albert Frere are considering a bid for Aston Martin, the luxury automaker that Ford has put up for sale, the Financial Times reported yesterday.

The two announced this week that they would form an investment fund of up to $1.25 billion and that they are "looking at Aston Martin," the Financial Times quoted a person "close to the pair" as saying.

Aston Martin makes about 5,000 cars a year, which cost upward of $100,000 each. The company has its headquarters, research and production facilities in Gaydon, England.

Ford Motor Co. bought a controlling stake in Aston Martin in 1987 and acquired full ownership in 1994. But Ford recently announced that it was prepared to sell out as part of a broader restructuring.