Geely and Ford Joint Venture to Build EVs in Spain by 2028

Ford 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.