Jul. 22 at 8:48 PM
Ford Motor and China’s Geely have reportedly reached an agreement for Ford to sell part of its Almussafes manufacturing complex near Valencia, Spain, giving Geely a strategic production foothold inside the European Union. According to ABC, the transaction is expected to be officially announced on Thursday during a visit to the facility by Spanish Prime Minister Pedro Sánchez and Ford Europe President Jim Baumbick.
The agreement would allow Geely to manufacture electric vehicles at the Spanish plant, beginning with its EX2 model. The move is significant for the Chinese automaker because it would provide local EU production capacity, helping it avoid tariffs imposed on electric vehicles imported from China while strengthening its position in one of the world's largest auto markets. Geely already owns or controls several well-known automotive brands, including Volvo Cars, Polestar, and Lotus.
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