Geely buys Ford assembly plant in Spain for production
Geely has reportedly purchased assembly facilities at Ford's Valencia plant. The move helps the Chinese automaker establish European production to avoid tariffs.
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GEELY AUTOMOBILE HOLDINGS LTD reportedly purchased the Body 3 assembly facilities from FORD MOTOR CO at the Almussafes plant in Spain. The deal follows negotiations for shared vehicle technologies first reported in February. Chinese automakers are establishing European production hubs to bypass import tariffs and tightening regional regulations.
