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Ford and Chinese automaker Geely have formed an alliance to produce cars at Ford's Valencia plant in Spain. This partnership will facilitate Geely's entry into the European market and address the surplus of workers at the Ford factory.
Ford has confirmed that a new SUV model will be produced at its Valencia plant starting in 2028, signaling a shift in its European strategy to include hybrid versions alongside fully electric vehicles.
Geely has acquired a one-third stake in Ford's Valencia plant, with the two multinational companies forming a joint venture to optimize the factory's capacity with the goal of producing 500,000 vehicles annually by 2028.
Workers at Ford's Valencia plant, represented by the UGT-PV union, are demanding retroactive salary increases following the securing of the Bronco model production, marking a new future for the factory.