Ford will hold a 66 per cent stake in the joint venture, while Geely will own the remaining 34 per cent. Subject to regulatory approvals, the new company is expected to start operations in the first half of 2027, with production of the first new models scheduled to begin in 2028. Ford will continue to build the Kuga at its Valencia plant during the transition.
The partners aim to optimise use of the Valencia plant’s existing capacity and lower production costs through the collaboration. According to Ford, the site has an annual production capacity of around 500,000 vehicles. However, neither company has disclosed planned output volumes for the future models.
The joint venture will initially produce four new models. Ford plans to manufacture a compact Bronco derivative and a new multi-energy crossover in Valencia. Ford will design the crossover and develop it jointly with Geely. The companies have not yet disclosed which powertrains the model will use or the platform on which it will be based. The crossover forms part of Ford’s European product offensive, which includes the launch of five new multi-energy models by 2029.
Geely plans to manufacture two battery-electric SUVs in Valencia, with production also scheduled to start in 2028. The company has not yet disclosed details about the vehicles or their technical specifications. For Geely, the move marks another step towards localising its European operations.
