Geely, a prominent Chinese automaker, will collaborate with Ford to produce electric vehicles at Ford's Valencia plant in Spain, pending regulatory approvals. This joint venture is set to commence operations in the first half of 2027, with the first vehicles expected to be produced in 2028. Ford will hold a 66% stake in the venture, while Geely will own 34%.
This partnership follows extensive discussions between the two companies and highlights Ford's strategy to leverage partnerships to enhance its global operations amidst increasing competition from Chinese automakers. Notably, this announcement comes shortly after a U.S. Senate committee advanced legislation aimed at restricting Chinese automakers' access to the U.S. market.
Ford CEO Jim Farley has acknowledged the strengths of Chinese manufacturers and indicated that collaboration will be key for Ford's future growth