12:12 PM EDT, 07/23/2026 (MT Newswires) -- Carmakers Ford Motor (FMC1.F) and Geely Automobile Holdings (GRU.F) agreed to create a Europe-focused joint venture, with plans to jointly produce a lineup of multi-energy vehicles. The venture, which will start operations in the first half of 2027, will transform Ford's facility in Valencia, Spain, into a shared manufacturing hub, according to a Thursday release. The first new vehicles are expected to roll off the production line in 2028. Ford will own 66% of the joint venture, with the remaining 34% set to be owned by Geely Auto.

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