Ford to partner with Chinese automaker Geely in Spain in new joint venture
Summary
Ford and Chinese automaker Geely will work together to build low- and zero-emission vehicles at Ford’s factory in Valencia, Spain. The joint venture aims to help Ford compete better in Europe’s changing car market and will focus on producing several electric and hybrid models starting in 2028.Key Facts
- Ford and Geely announced a partnership to manufacture green vehicles in Spain.
- The joint venture will be owned two-thirds by Ford and one-third by Geely.
- They plan to produce five models, including the Ford Kuga plug-in hybrid and a new Bronco SUV.
- Geely will make two electric SUVs at the same plant, with production starting in 2028.
- A new multi-energy crossover vehicle will also be jointly developed and released in 2028.
- The partnership aims to address strong competition, rising costs, and stricter rules in the European market.
- Chinese automakers like Geely are expanding globally by offering affordable, advanced electric vehicles.
- Ford’s vehicle sales in Europe have dropped from over 1 million a decade ago to less than half a million last year.
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