Ford and Geely form Valencia JV to reboot Europe’s car production
Ford and Geely will form a Valencia, Spain manufacturing joint venture (Ford 66%, Geely 34%) to produce two EVs and jointly develop Ford’s next crossover due in 2028, aiming to lift Valencia’s utilisation toward full capacity and cut European production costs as Ford seeks to revive its European business amid competition from Chinese brands; government support details were not disclosed.