China carmakers to team | Arkansas Democrat Gazette

China carmakers to team | Arkansas Democrat Gazette: Ford and Geely Auto said they will jointly manufacture reduced-emission and zero-emission vehicles at Ford’s Valencia, Spain plant, pending regulatory approval. The move is aimed at revitalizing Ford’s European portfolio amid pressure from fast-growing Chinese companies that have been gaining share worldwide. The joint venture would be 66% owned by Ford and 33% by Geely, which also owns brands such as Volvo and Polestar. The partners plan to focus on five vehicles: Ford will keep producing the Ford Kuga plug-in hybrid and will start production of a new Bronco SUV in 2028. Geely will build two electric SUVs at Valencia, with the first slated for 2028, and the firms will also jointly develop a new “multi-energy” crossover to arrive in 2028. A company release linked the plan to Europe’s cost pressure and tightening regulations. Ford CEO Jim Farley said the automaker leverages global partnerships and even intellectual property sharing, including with Chinese firms, to grow worldwide.