Geely now owns 34% of Ford's Spanish plant

The newest chapter in the 'European and American automakers just giving up and inviting the Chinese to take over' saga has just been written. Ford will produce Geely vehicles at its plant in Valencia, Spain, alongside the Kuga and "a new generation of low- and zero-emission vehicles for European markets", according to the official press release.

Actually, Ford has established a 66%-34% manufacturing joint venture with Geely. Pending regulatory approvals, the joint venture will commence operations in the first half of 2027.

The plant is initially set to produce two electric Geely SUVs starting in 2028. It will also make "an all-new multi-energy crossover for Ford", jointly developed with Geely, and a new member of the Bronco family built for European roads.

Ford says this move, which is "built on a foundation of trust and shared business principles", "addresses the new realities of the European market", such as "intense global competition, relentless cost pressure and tightening regulation", while securing the future of the Valencia plant.