China's Geely to make EVs at Ford plant in Spain under new joint venture

A Ford logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, on March 27, 2024.David Dee Delgado | ReutersChina automaker Geely will build electric vehicles at a Ford Motor plant in Spain under a new manufacturing joint venture in Europe, the companies announced Thursday.Pending regulatory approvals, the companies said the joint venture will begin operations in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028. The Valencia, Spain, plant will continue to produce the Ford Kuga in the meantime, according to a news release.The companies said Ford will own 66% of the joint venture, while Geely will have a 34% stake. The joint venture is expected to include a new electric crossover for Ford, in "addition to a new member of the Bronco family, plus two electric Geely SUVs, with production starting in 2028," the companies said.The announcement comes after months of reported talks between the two sides, as legacy automakers such as Ford attempt to compete with Chinese carmakers that have quickly been expanding into new markets outside of China for several years."The joint venture addresses the new realities ...