Geely and Ford Form Joint Venture to Enter European Market

[International Cooperation] Geely and Ford have established a joint venture in Spain, sharing the Valencia plant's annual production capacity of 500,000 vehicles.

Core Developments: €221 Million Investment + Five New Models Launching by 2028

Geely has acquired a 34% stake in Ford’s Valencia plant in Spain for €221 million, while Ford retains a controlling 66% stake. The joint venture is expected to commence operations in the first half of 2027 and begin rolling out five new models starting in 2028, including the Ford Kuga, the new Bronco SUV, a jointly developed crossover, and two Geely new energy vehicles (including the Galaxy Starship).

Strategic Rationale: Revitalizing Idle Capacity and Accelerating Localized Presence

The Valencia plant has an annual capacity of approximately 500,000 vehicles but had been underutilized due to Ford’s downsizing of its internal combustion engine vehicle operations in Europe. This partnership will significantly boost capacity utilization and shift Geely’s overseas sales—which reached 474,000 units in the first half of 2026, up 158% year-over-year—from export-based to locally produced, thereby strengthening its strategic foundation in Europe.