China’s Geely partners with Ford to revive Spain plant and deepen European EV drive
Tie-up breathes new life into plant near Valencia and signals Chinese carmakers’ stepped-up push to go global amid tariff pressures
Multi-energy cars would be assembled at an idle factory in Almussafes, near Valencia, after the two companies set up a venture, with deliveries expected to begin in 2028, according to a statement by Geely on Thursday.
The Chinese group would hold a 34 per cent stake, while Ford would control 66 per cent, it added. Three Ford-branded multi-energy vehicles and two electric Geely-branded models would be assembled at the plant.
“By optimising factory utilisation and sharing development costs, the partnership will bolster operational excellence and provide long-term stability and employment opportunities for Valencia’s world-class automotive workforce,” Geely said in the statement.
The tie-up highlights a growing trend of Chinese carmakers deepening their European foray by tapping international marques’ excess production facilities.
Chinese EV makers are powering ahead in Europe, and local production sites can eventually help them avoid tariffs there
The plant in Spain, once Ford’s largest factory outside the US, had been running at less than a quarter of its annual capacity of 450,000 vehicles, according to Bloomberg.