Tesla is ready to sell its stake in the electric car company and will start the process to acquire the company’s debt and other assets, according to a person familiar with the matter.

The person, who spoke on condition of anonymity because the company hasn’t publicly announced the transaction, said the Tesla board has already voted to sell the stake, which is worth more than $400 million.

The board has the option to buy back the stake at a lower price.

The sale would mark a dramatic turnaround for a company that has suffered years of disappointing sales and stock price declines.

The company had been trying to turn around its fortunes in the face of stiff competition from electric-car makers including Ford and General Motors.

But the company has faced mounting criticism for failing to attract and retain key executives who were once prominent in the company, including CEO Elon Musk.

The news of the potential sale comes as Tesla shares are down around 3% in after-hours trading on Thursday, amid a renewed focus on its bankruptcy.

It’s unclear what price it might fetch.