SerpApi.Org
A new joint venture between Ford and Geely will see the pair build new cars for the European market at the American brand’s production site in Valencia, Spain.
The Blue Oval will join forces with one of China’s largest carmakers to create a series of new vehicles, the first of which will roll off the line in 2028.
Under the proposed agreement, Ford will own 66 per cent of the new entity, with Geely Auto owning 34 per cent.
Under Ford badging, the pair will produce a new Europe-focused Bronco, a car which takes an iconic name from one of America’s most popular models. This will be followed by a new crossover which forms part of an ‘aggressive product offensive’ that will see the pair launch five new multi-energy cars in Europe by 2029.
On the Geely side, there will be two electric SUVs produced at Valencia, with the first aiming to be produced in 2028.
Jim Baumbick, President, Ford of Europe, said: “For nearly 50 years, Valencia has built some of the most-loved cars in our history, and now this team will help build our future.
That’s why we’re building a flexible, cost-effective industrial system with a capable partner in Geely Auto. Together we can fully utilise a best-in-class plant with a great workforce and match the industry’s new cost benchmark. This is all part of Ford’s vision to give European drivers rally-bred handling, true off-road capability and multi-energy technology, with a distinct Blue Oval DNA.”
