Ford and Geely Form European JV to Build Multi-Energy Vehicles in Spain
F sits 35% above its 52-week low of $10.68.
Summary
Ford and Geely Auto are forming a joint venture at Ford's Valencia, Spain plant to produce next-generation multi-energy vehicles for Europe. Ford will own 66% and Geely 34%, with operations expected to start in H1 2027 and first vehicles rolling off the line in 2028. The JV will build a new Ford multi-energy crossover, a new Bronco family member, and two electric Geely SUVs, while continuing Kuga production. This partnership addresses intense European market pressures by pooling volume to lower costs and compete at the industry's new cost benchmark. It follows Ford's recent strategic moves, including the EV battery JV restructuring and CATL licensing deal, reinforcing its European product offensive. The deal secures the Valencia plant's future and supports Ford's plan to bring five new passenger vehicles to European showrooms by 2029.
At the time of this announcement, F was trading at $14.41 on NYSE in the Manufacturing sector, with a market capitalization of approximately $57.5B. The 52-week trading range was $10.68 to $17.78. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.