Ford to partner with Chinese automaker Geely in Spain in new joint venture

Ford and Geely Auto have announced a joint venture to manufacture low- and zero-emission vehicles at Ford's Valencia, Spain factory. This partnership aims to boost Ford's European market offerings and compete with rapidly growing Chinese automakers. The venture, pending regulatory approval, will be two-thirds owned by Ford and one-third by Geely. Production will focus on five vehicles, including the Ford Kuga plug-in hybrid, a new Bronco SUV, two Geely electric SUVs, and a jointly developed crossover, all slated for production starting in 2028. This collaboration addresses intense European market competition and cost pressures, while also helping Ford maintain operations at its underutilized Valencia plant.

Chinese automaker Geely Auto and Ford Motor have formed a joint venture to utilize Ford's idle factory in Almussafes, Spain, for electric vehicle (EV) production. Geely will hold a 34% stake in the venture, while Ford will control 66%. The plant will assemble both Ford-branded and Geely-branded multi-energy vehicles, including two electric Geely models. Deliveries are anticipated to commence in 2028. This partnership signifies Geely's intensified efforts to expand its global presence, particularly in the European EV market.