Ford and Geely Strike EV Production Deal at Spanish Plant
F sits 35% above its 52-week low of $10.68.
Summary
Ford and Geely have reached a landmark deal for Geely to manufacture EVs at Ford's Almussafes plant in Spain. The agreement gives Geely a manufacturing base inside the EU, helping it avoid tariffs on Chinese EV imports, while Ford cuts fixed costs by sharing factory infrastructure. This follows February reports of talks between the two companies and comes amid Ford's broader EV restructuring, including the recent elimination of a $6.6 billion capital commitment in its battery JV. The deal helps Ford monetize underused assets and safeguard jobs at a plant whose future was uncertain. An official announcement is expected Thursday during a visit by Spain's prime minister.
At the time of this announcement, F was trading at $14.40 on NYSE in the Energy & Transportation 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: Reuters.