Ford to sell part of Spain plant to Geely for EV production: Report
Ford Motor Company will sell part of its Almussafes plant near Valencia to China's Geely, enabling the latter to manufacture electric vehicles in Spain. This deal allows Geely to circumvent EU tariffs on EVs imported from China while helping Ford reduce costs and optimize its manufacturing assets. The announcement is anticipated during a visit by Spanish Prime Minister Pedro Sanchez and Ford Europe President Jim Baumbick to the plant on Thursday.