Ford and Geely Form Joint Venture at Valencia Plant
Ford has partnered with Chinese automaker Geely in a joint venture to revitalize its underutilized Almussafes plant near Valencia, Spain. Ford will retain a majority stake of 66%, while Geely acquires 34%. The partnership aims to increase production volume and reduce costs by manufacturing five models across both brands at the facility. The factory currently operates below capacity but is expected to benefit from expanded model offerings including two electric SUVs for Geely, Ford's Kuga and Bronco family, as well as a new multi-energy crossover. The joint venture also aligns with European regulatory trends favoring local production over imports. Ford’s European market share has declined in recent years due to rising competition from Chinese automakers like BYD and SAIC's MG. Geely will rely on the existing Spanish workforce rather than importing labor, supporting regional employment while establishing a long-term presence within the EU. The collaboration is seen as critical for Ford’s struggling European operations and offers Geely access to local manufacturing capabilities amid increasing regulatory pressure.
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