Chinese automaker Geely (HK:0175) agreed to purchase the Body 3 vehicle assembly facilities at Ford’s Almussafes plant in Valencia, Spain.
Geely plans to produce one of its models at the acquired site and is discussing building a model for Ford.
The move follows Geely’s negotiations with Ford on shared vehicle technologies and reflects Chinese strategy to produce in Europe to sidestep tariffs.
SAIC Motor is also considering a production site in Ferrol, Galicia, underscoring broader Chinese interest in European automotive manufacturing.