Geely and Ford Joint Venture to Build EVs in Spain by 2028
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowFord Motor (F) and Geely will establish a joint venture to manufacture electric vehicles at a Ford plant in Valencia, Spain. The venture is awaiting regulatory approvals and operations are set to commence in the first half of 2027, with the first vehicles rolling off the line in 2028. Ford will hold a 66% stake, while Geely will have 34%. This partnership is part of Ford's strategy to compete with expanding Chinese automakers and adapt to pressures in the European automotive market, which includes intense competition and tightening regulations.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Ford Motor Company (F)
Ford Motor is a major U.S. automaker known for its F-Series trucks, Mustang, and growing electric-vehicle lineup.
The Consumer Discretionary sector covers retailers, automakers and leisure companies whose sales rise and fall with consumer confidence.
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