Ford Motor and China's Geely Automobile have established a joint venture to produce electric vehicles at Ford's dormant Almussafes factory in Valencia, Spain. Geely will hold a 34 percent stake in the arrangement, with Ford retaining the majority. The deal puts previously idle manufacturing capacity back to work without either company building a new facility from scratch.
Ford gets a path to European EV production that costs less than greenfield investment, while Geely gains a manufacturing foothold inside the European Union at a moment when Chinese automakers face rising import tariffs. For investors, this is a capital-light move for Ford that could improve its European margin profile over time, and it signals Geely's strategy for sidestepping trade barriers rather than absorbing them.
European Commission tariff review on Chinese EVs, ongoing. Ford Q2 2025 earnings, expected late July 2025. Geely Auto interim results, expected August 2025.
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