Ford, Geely start joint venture to revitalize Valencia plant

Ford Motor Company and China's Geely Auto have finalized a joint venture to produce vehicles at Ford's underutilized plant in Almussafes, Valencia, Spain, an agreement announced on Thursday, July 23, 2026. The partnership aims to revitalize the factory, secure local jobs, and expand both companies' presence in the competitive European automotive market.

Under the terms of the deal, which is pending regulatory approval, Ford will retain a 66 percent stake in the new joint venture entity, with Geely holding the remaining 34 percent. The collaboration will utilize idle capacity at the Almussafes facility, which currently produces only the Ford Kuga crossover and has been operating at less than a quarter of its potential annual capacity of 450,000 to 500,000 vehicles. The joint venture is expected to begin operations in the first half of 2027, with the first vehicles scheduled to roll off the production line in 2028.

The partnership will focus on launching new vehicles tailored for Europe. Ford plans to produce a new European-focused Bronco model and a jointly developed multi-energy family crossover, both slated for a 2028 launch. Geely will produce two electric SUVs at the plant,...