Ford and Geely Form Spain Joint Venture for EVs

Ford Motor Company and Geely Automobile Holdings announced a manufacturing joint venture on July 23, 2026, to produce low- and zero-emission vehicles at Ford's Almussafes plant in Valencia, Spain. Ford will own 66% of the new entity, while Geely Auto will hold a 34% stake. Pending regulatory approval, operations are expected to begin in the first half of 2027, with the first vehicles rolling off the line in 2028.

The partnership aims to revitalize the Almussafes facility, which had been operating at less than 25% of its 450,000-vehicle annual capacity. Starting in 2028, the plant will produce two Geely electric SUVs, including the EX2, a compact Bronco SUV for Ford, and a co-developed multi-energy crossover. Production of the Ford Kuga will continue uninterrupted.

For Geely, the venture establishes its first production site within the European Union, allowing the company to bypass EU tariffs on Chinese-made electric vehicles. For Ford, the deal reduces development costs and improves economies of scale to better compete with Chinese automakers. Spanish Prime Minister Pedro Sanchez and Valencia regional president Juanfran Perez Llorca supported the move, noting that the alliance preserves thousands of local jobs and strengthens Europe's industrial base amid a shift toward electrification.