Home / Business and Economy / Ford Allies with Geely for New SUV
Ford Allies with Geely for New SUV
27 Aug
Summary
- Ford will use Geely's GEA platform for a new compact crossover.
- The vehicle will launch in 2029 and be built in Valencia, Spain.
- Geely's Centurion Industries will acquire a 34% stake in the factory.
Ford is set to launch a new compact crossover in 2029, a development born from a unique collaboration with Chinese automaker Geely Auto Group. This new SUV will be built in Valencia, Spain, and will feature multiple drivetrains.
The vehicle will be based on Geely's electrified GEA platform, allowing Ford to incorporate advanced electric vehicle technology and cost efficiencies. Ford plans to differentiate its offering with a "rally" styling, drawing on the company's racing heritage.
As part of the agreement, Geely-owned Centurion Industries will acquire a 34% stake in the Valencia factory for $259 million. This joint venture aims to expand Geely's reach into Europe while mitigating risk and capital investment for the Chinese company.
