A new multi-energy Ford crossover and two Geely EVs will be built in Valencia, securing the future of Ford's Spanish factory.
The deal, confirmed after months of speculation, will involve the creation of the new joint venture that will take over the operation of the factory, which Ford opened 50 years ago.
When the deal is completed next year, Ford will own 66% of the new entity and China's Geely Auto will own 34%.
The goal to maximise the plant’s potential annual capacity of around 500,000 vehicles, which Ford of Europe boss Jim Baumbick said will involve hiring additional staff.
What it means for Ford: three models and shared tech
The Kuga SUV is the only model currently produced in Valencia, but four new machines are now set to join it by 2029.
This will include the new European-focused Bronco SUV (imagined by Autocar above), which will arrive in 2028 and is understood to sit on the same C2 platform as the Kuga.
There will also be a new multi-energy Ford “family crossover”, which will be jointly developed by Ford and Geely, also due in 2028. Baumbick said it will be “a rally-bred crossover in the C-segment”.
While he didn’t specify which platform the new crossover will be based on, he said that it won't be a badge-engineered model: “The Ford product will be a completely unique top hat; this is not a reskin.
"We don’t do boring cars. This is a completely uniquely engineered, truly unmistakably Ford product that will be differentiated from Geely’s product.”
The Bronco and new crossover are two of five new rally-inspired models that Ford plans to launch in Europe by 2029 as part of a major revival plan for the region.
There will also be two small electric models that will be produced by Renault, along with a further multi-energy crossover.
Ford has yet to give any details of that fifth model, but its absence from the initial plans for Valencia suggests that it will be built elsewhere.
Ford’s German plant currently produces the Explorer and Capri electric SUVs on the Volkswagen Group’s MEB platform, and Baumbick said that deal was unaffected.
Meanwhile, Ford also currently produces the Puma in petrol and electric forms in Romania.
What the deal means for Geely
Geely will produce two electric SUVs at Valencia, with production expected to begin in 2028, as part of its global expansion plans.
Although this will be the first time Geely-branded models have been built in Europe, the Chinese company has experience of European production through its ownership of LEVC, Lotus, Polestar and Volvo.
Geely senior vice-president Victor Yang declined to specify which models would be built in Spain but said: “We have always believed that to be truly rooted in Europe, we must be of Europe.
"For us that means localisation and a long-term commitment to integrating our expertise with the world-class manufacturing heritage of the Valencia plant.
