Global Markets
Home›Global Markets›Europe›Geely and Ford to build EVs at idle Spain plant near V…
Geely and Ford to build EVs at idle Spain plant near Valencia
Deliveries are expected to start in 2028, with Geely taking a 34% stake and Ford 66% in the planned venture.
Geely Auto, described as China’s second-largest automaker, has partnered with Ford Motor to use Ford’s unused capacity in Spain to assemble electric vehicles and other multi-energy vehicles, as the companies expand their footprint in Europe.
According to a statement cited by SCMP Economy, the planned assembly will take place at an idle plant in Almussafes near Valencia, after Geely and Ford set up a venture, with deliveries expected to begin in 2028.
SCMP Economy also reported that Geely will hold a 34% stake in the joint venture, while Ford will control 66%. The deal calls for three Ford-branded multi-energy vehicles and two electric Geely-branded models to be built at the facility.
SCMP Economy added that the Spain plant, once Ford’s largest factory outside the US, had been operating at less than a quarter of its annual capacity of 450,000 vehicles, and noted Geely said the partnership would optimize factory utilization and support jobs in Valencia.