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Audi plans to build its first U.S. factory in Georgia
Audi plans to invest approximately US$4 billion in its first manufacturing plant in the United States, located in Georgia. The project could create around 4,500 jobs and support annual production of up to 200,000 vehicles, primarily SUVs designed for the North...
Audi plans to build its first U.S. factory in Georgia
Audi plans to invest approximately US$4 billion in its ...
China approves Ford-Geely joint venture
The partnership between Ford and Geely has reached anot...
Electric vehicle sales surge in Europe
Battery-electric vehicle sales surged 62% in September ...
Éric Descarries
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China approves Ford-Geely joint venture
Éric Descarries
Hits: 17
Since last summer, we've known that Ford is partnering with Chinese automaker Geely in Europe. Initially, Ford will give Geely access to part of its Valencia assembly plant in Spain. This arrangement would allow the Chinese automaker to manufacture vehicles locally and avoid certain import tariffs.
In addition, Ford and Geely will jointly develop a new model for the region. The vehicle will wear the Blue Oval badge and use Ford's technical underpinnings.
According to Reuters, Chinese authorities have unconditionally approved Geely's acquisition of a 34% stake in Ford España, Ford's Spanish subsidiary, as part of the joint venture.
This will give Geely relatively easy access to European production capacity, while allowing the American automaker to make better use of its Valencia plant. It's worth noting that much of the facility has been underutilized for some time.
(Photo: Ford)
Éric Descarries
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