Ford Motor Company and Geely Automotive Holding have announced the creation of a joint venture based at Ford's plant in Valencia, Spain. The new entity will be responsible for the development and production of a wide range of new energy vehicles for both brands.

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According to the preliminary ownership structure, Ford will receive 66% of the joint venture, while Geely will own 34%. The new company is expected to begin operations in the first half of 2027, after obtaining all necessary regulatory approvals.

The main production site will be the Ford Valencia plant – one of Europe's largest and most modern automotive facilities. Its production capacity reaches approximately 500,000 vehicles per year.

The partners expect that the joint use of production facilities will increase plant utilization, accelerate the development of new models, and reduce production costs. In addition, the project is expected to have a positive impact on the regional economy by creating additional jobs.

After the launch of the joint venture, the plant will continue to produce the Ford Kuga, but from 2028, the model range will significantly expand.

One of the main novelties will be a new compact SUV from the Ford Bronco family with a more pronounced off-road focus.

The companies are also preparing an entirely new Ford crossover. The American manufacturer will be responsible for the design of the model, but the development of the car will be carried out jointly with Geely specialists.

The Chinese automaker, in turn, will begin producing two of its own new energy vehicles at the Spanish plant. One of the first models will be the Geely EX2, which is known in the Chinese market as the Geely Xingyuan and is among the brand's most popular cars.

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