Ford And Geely Form European Joint Venture To Build Multi-Energy Vehicles At Valencia Plant From 2028
Ford Motor Company
GEELY AUTOMOBILE HOLDINGS LIMITED
GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD
Ford Motor Company F | 0.00 | |
GEELY AUTOMOBILE HOLDINGS LIMITED GELYF | 0.00 | |
GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD GELHY | 0.00 |
- The global automakers plan to form a manufacturing joint venture at Ford's Valencia, Spain, plant, combining scale and factory utilization, to build Ford and Geely vehicles
- The partnership, built on a foundation of trust and shared business principles, secures the future of the Valencia plant, provides long-term stability and creates the potential for future high-tech manufacturing job growth
- The joint venture addresses the new realities of the European market -- intense global competition, relentless cost pressure and tightening regulation -- resetting Valencia to build at the industry's emerging cost benchmark
- The Valencia plant will produce a new generation of low- and zero-emission vehicles for European markets, offering customers an outstanding technology experience
- The joint venture is expected to produce an all-new multi-energy crossover for Ford, in addition to a new member of the Bronco family, plus two electric Geely SUVs, with production starting in 2028. Kuga production continues uninterrupted
- The collaboration accelerates Geely Auto's European expansion, and supports Ford's product offensive to bring five new passenger vehicles to European showrooms by 2029