Ford and Geely Form Joint Venture in Spain for Multi-Energy Vehicles
Ford and Geely Automobile Holdings are establishing a new joint venture at Ford's plant in Valencia, Spain. The venture will produce Ford and Geely branded multi-energy vehicles for the European market.
Automakers Ford Motor Company and Geely Automobile Holdings have announced an agreement to form a Europe-focused joint venture at Ford's production facility in Valencia, Spain. The new entity will manufacture multi-energy passenger vehicles for both the Ford and Geely brands, targeting the European market.[*]
The partnership aims to optimize production capacity and reduce costs at the Valencia plant, which currently produces the Ford Kuga. This move addresses the intensified competition and stricter regulations within the European automotive industry, seeking to establish new cost benchmarks for manufacturing.[*]
Production of the first new vehicles is slated to begin in 2028. The joint venture is expected to produce a new multi-energy crossover for Ford, along with a new Bronco family model and two electric SUVs from Geely. This collaboration is intended to accelerate Geely's European expansion and support Ford's product offensive in the region.[*]
The agreement is subject to regulatory approvals, with the joint venture expected to commence operations in the first half of 2027. The partnership is positioned as a means to secure the future of the Valencia plant and foster long-term stability.