Ford and Geely Forge Strategic Joint Venture in Valencia, Spain
In a landmark move for European automotive manufacturing, Ford Motor Company and Geely Holding Group have announced a joint venture to be established at Ford’s Valencia plant in Spain. Subject to regulatory approvals, the new entity is set to begin operations in the first half of 2027 — with its first jointly developed vehicle scheduled for production in 2028.
The Valencia facility, one of Europe’s largest and most advanced auto plants with an annual capacity of approximately 500,000 units, will serve as a shared manufacturing and development hub. This collaboration aims to maximize capacity utilization, accelerate product development cycles, reduce engineering costs, and strengthen regional economic growth — while also generating new local employment opportunities.
Under the agreement, the plant will continue producing the Ford Kuga. It will also launch two all-new models in 2028: a rugged compact SUV expanding the Ford Bronco family, and a new Ford-branded crossover. The latter will be led by Ford in design and co-developed with Geely — marking a significant step in Ford’s global electrified product offensive.
Geely, meanwhile, will introduce two new energy vehicles at the same facility. Its first model — codenamed EX2 — is slated for production in 2028, supporting Geely’s aggressive overseas expansion. In the first half of 2026 alone, Geely’s overseas sales reached 474,000 units — a 158% year-on-year increase.
This partnership builds on a long-standing relationship between the two automakers. Since Geely acquired Volvo Cars from Ford in 2010, Ford has observed Geely’s successful stewardship and revitalization of the Swedish brand — laying foundational trust for deeper industrial cooperation today.