The Chinese automotive company Geely will become partner of Ford's factory in Almussafes through a new joint venture. Ford will retain the majority and control of the company, which will take on the industrial activity of the Valencian plant.
Ford and Geely have chosen a joint venture to structure their industrial alliance in Almussafes. The operation will allow the Chinese group to participate in the capital of the structure that will control the factory, while the American company will maintain a majority position.
Ford will contribute the plant or its industrial assets to a shared company and Geely will acquire a minority stake in it, according to information reported by El Español.
Ford will retain control of Almussafes
The chosen formula makes Geely an indirect co-owner of the factory, but leaves its control in the hands of Ford. The American multinational will retain the majority of the capital and, with it, the ability to direct the new company.
Pending the companies publishing the complete corporate documentation, what is confirmed is that Ford will be the majority partner and Geely will enter as a minority shareholder.
From the possible sale of Body 3 to a joint company
The structure finally chosen allows for fitting the versions known over the last few months. The first information indicated that Geely would buy Body 3, the most modern building in Almussafes and currently without workload.
Subsequently, other sources ruled out a direct sale and indicated that the agreement would be limited to a production agreement. The creation of the joint venture offers an intermediate solution: Ford does not sell the factory entirely to Geely, but the Chinese manufacturer does enter the company linked to its industrial exploitation.
Five models to recover the activity of Almussafes
The industrial project contemplates concentrating in the Valencian factory five vehicles from the two brands. The portfolio would include three models from Ford and two electric SUVs from Geely intended for the European market.
Among the Ford vehicles are the current Kuga, the new model from the Bronco family, and a crossover developed within the collaboration. Reuters notes that the agreement also plans to manufacture two SUVs from Geely, one of them the EX5, already marketed in Europe.
The start of the new productive phase is scheduled for 2028. The joint company must be established and complete the necessary legal, industrial, and regulatory procedures beforehand.
What Geely Gains from Its Entry in Almussafes
The operation provides Geely with an industrial base within the European Union without the need to build a factory from scratch. The Chinese group will be able to take advantage of the facilities, the specialized workforce, and the existing automotive supplier network in the Valencian Community.
Producing within the EU also reduces its exposure to European tariffs applied to certain electric cars imported from China and facilitates compliance with future community requirements for local content.
Geely, owner of brands such as Volvo Cars and shareholder of Lotus, Polestar, Smart, and Aston Martin, thus strengthens its industrial landing in Europe.
What the Agreement Means for Ford and Employment
For Ford, Geely's entry allows for the sharing of investments and costs and recovers part of the unused capacity of Almussafes. The factory, prepared to manufacture around 500,000 vehicles per year, produced less than 100,000 units in 2025 and currently depends on the Kuga.
The expansion of the portfolio from one to five models improves the prospects for the continuity of the plant and the reintegration of workers affected by temporary employment regulation measures.
However, the companies have not yet detailed the total investment, the volumes assigned to each vehicle, nor the exact number of positions that will be recovered or created. For that reason, it cannot yet be stated that the agreement automatically guarantees all current jobs.