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[BUSINESS] · United States, China, Spain · 100 sources

Ford and Geely launch joint venture to revive Valencia plant

Ford Motor Company and China’s Geely Auto announced a joint‑venture to take over the Almussafes factory near Valencia. Ford will hold 66 % of the new company and Geely 34 %, with the venture expected to start operations in the first half of 2027 after regulatory approval. Production of five models – three Ford vehicles (a new Bronco, a multi‑energy crossover and the existing Kuga) and two fully electric Geely SUVs, the first being the EX5 – is slated to begin in 2028.

The plant, capable of building up to 500 000 cars a year, has been running at roughly 30 % capacity after the loss of several models. The partnership aims to increase utilisation, cut fixed costs and safeguard more than 4 000 jobs. Geely will gain a European manufacturing base, allowing it to avoid EU import duties on Chinese‑made electric vehicles, while Ford seeks to remain competitive in the increasingly cost‑pressured European market. Ford Europe President Jim Baumbick said the deal will “fully utilise the plant and protect jobs,” and Geely vice‑president Alex Nan highlighted the venture as a key part of the Chinese group’s European growth strategy.

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