Ford and Geely Launch European Joint Venture in Spain

Ford Motor Company and Geely Automobile Holdings have announced an agreement to establish a joint venture dedicated to the European market, to be based at Ford's production facility in Valencia, Spain. The new company will manufacture multi-energy passenger vehicles for both Ford and Geely brands.

The partnership aims to leverage economies of scale and optimize the utilization of the Valencia plant, securing its future and fostering long-term stability. This move is expected to create growth potential for high-tech automotive manufacturing and design jobs in the region. The joint venture is anticipated to commence operations in the first half of 2027, with the first new vehicles expected to roll off the assembly lines in 2028.

The Valencia facility will produce a new generation of low- and zero-emission vehicles, including a new multi-energy crossover for Ford and a new member of the Bronco family. Geely will also see two of its electric SUVs produced there. The current production of the Ford Kuga will continue without interruption. This collaboration is set to accelerate Geely's European expansion and support Ford's strategy to launch five new passenger vehicles in Europe by 2029.

This joint venture addresses the evolving European automotive landscape, characterized by intense global competition, cost pressures, and stringent regulations. By pooling production volumes, Ford and Geely intend to reposition Valencia as a cost-competitive manufacturing hub, offering customers advanced, low-emission vehicles. "This joint venture with Ford in Europe reflects our commitment to open and collaborative product development," stated Alex Nan, Vice President of Geely Group.

The collaboration builds on the existing relationship between Ford and Geely, stemming from Ford's 2010 sale of Volvo Cars to Geely. Both companies share a focus on quality, continuous improvement, and enabling customer choice in the energy transition.