Ford will own 66 percent of the company’s shares, and Geely the remaining 34 percent, according to a statement from both companies about the project, which was presented at the Valencia plant.
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The plant will continue to produce the Ford Kuga plug-in hybrid without interruption, and from 2028, the new Ford Bronco, two Geely electric SUVs, and a new multi-energy family crossover designed by Ford and co-developed with Geely.
“The goal is nothing less than to fully utilize the capacity of this plant,” said Jim Baumbick, President of Ford Europe, at a press conference.
This partnership will allow both automakers to reduce production costs at the Valencia plant, where, according to the UGT Ford trade union, fewer than 100,000 cars were assembled in 2025, the lowest production level ever recorded.
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According to Ford and Geely, in the long term, the plant’s annual production capacity could reach approximately 500,000 cars.
Spanish Prime Minister Pedro Sanchez, who visited the plant, welcomed the agreement and stated that it demonstrates Spain’s ability to attract large investments and participate in the transformation of the automotive sector.
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