Ford Motor Company and Chinese automaker Geely have established a joint venture to produce electric and multi-energy vehicles at Ford’s Valencia, Spain, factory. The venture recently received approval from the Chinese government.
The partnership aims to make fuller use of the plant’s capacity and lower production costs for both companies in Europe. Ford will hold a 66% stake in the venture. Geely will hold the remaining 34%.
The Valencia plant will produce a new Ford crossover based on a Geely platform, a compact Bronco SUV and two electric SUVs for the Geely brand. Production is slated to begin in 2028. The plant will also continue making the Ford Kuga.