Ford and Geely Ignite Spanish EV Revolution with Major Joint Venture
In a landmark move for the global automotive industry, Ford Motor Company and Geely Automobile Holdings announced on Thursday, July 23, 2026 that they will form a Europe-focused joint venture at Ford’s manufacturing plant in Valencia, Spain. This deal promises to reinvigorate one of Ford’s most underutilized factories, which assembled fewer than 100,000 vehicles in 2025 — its lowest output on record.
Under the agreement, Ford will hold a 66% stake in the venture while Geely takes 34%. The partnership plans to produce five new models starting in 2028:
- A new Ford Bronco SUV
- An all-new jointly developed multi-energy crossover
- Two electric Geely-branded SUVs
All these models are designed for European consumers. The existing Ford Kuga plug-in hybrid will continue production without interruption during the transition. The joint venture is expected to begin operations in the first half of 2027.
“The goal is nothing other than to use this plant fully at its maximum capacity,” said Ford Europe President Jim Baumbick at the Valencia press conference. The partnership also accelerates Geely’s push into the European market, supporting its aggressive green vehicle expansion strategy. Geely, which already owns brands including Volvo and Polestar, said it is “building cars in Europe, for Europe.” The deal is pending regulatory approval.
Source: GlobeNewswire – Geely Auto and Ford Establish Joint Venture in Spain