Asian automotive conglomerate Geely is taking a key step towards strengthening its position in the European market after regulators in Beijing officially approved the deal to buy a 34% stake in Ford's Spanish unit. China's State Administration for Market Regulation gave the green light to the strategic partnership, the foundations of which were laid back in the summer of 2026. The financial parameters of the transfer remain confidential for the time being.
The investment marks the beginning of a large-scale joint venture based at the American giant's production complex in Valencia. The main objectives behind this alliance are to optimize production costs, share technological resources and jointly develop new-generation vehicles. The factory, whose annual capacity reaches an impressive 500,000 vehicles, will be shared between the two concerns for the assembly of models powered by alternative energy sources.
The development plan foresees that the joint site will start operating in the first half of 2027, as soon as the administrative procedures and regulatory permits in Europe are finalized. The first completely new product born from the partnership is expected to enter the market in 2028. The deal not only provides stability for the Spanish automotive sector, but also opens up new opportunities for job creation in the region.
The model range of the Valencia plant will undergo a significant restructuring. The popular Ford Kuga SUV will retain its place on the assembly line, and in 2028 it will be joined by a new compact all-terrain model from the Ford Bronco range, distinguished by serious off-road capabilities. In parallel, Ford and Geely engineering teams are preparing a joint crossover under the American brand, the design of which is led mainly by Ford designers with the active assistance and technology of their Chinese partners.