Geely Automobile Holdings and Ford Motor Company have officially announced the establishment of a joint venture to produce new energy vehicles (NEVs) at Ford’s manufacturing plant in Valencia, Spain. Subject to the necessary regulatory approvals, 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.
Under the agreement, Geely will manufacture two new energy vehicle models at the Valencia facility, while Ford will produce three Ford-branded models featuring multiple powertrain technologies. Ford will hold a 66% stake in the joint venture, with Geely owning the remaining 34%.
The partnership will transform the Valencia plant into a modern manufacturing hub with an annual production capacity of approximately 500,000 vehicles. Both companies aim to improve production efficiency, reduce vehicle development costs, and create long-term employment opportunities. Geely stated that the agreement will strengthen its presence in the European market, while Ford emphasized that the collaboration forms part of its strategy to expand its portfolio of advanced vehicles for European customers.
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