Geely to Acquire Ford Spain Facility for European EV Expansion, Report Says
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Behind Geely (the giant who is going to buy part of the Almussafes factory) is Li Shufu, an industrialist known as the Chinese Henry Ford for the way he has revolutionized the automobile in his country. Geely’s owner is the son of humble farmers, belongs to the communist party and accumulates a fortune of more than 15 billion euros.
Chinese brands are already clear where they want to take root in Europe for their electrics and batteries. They are not one or two, but many Chinese brands that have put their eye on our country to make their electric cars and their batteries. What are the reasons why giants like Leapmotor, Chery and even BYD are “putting eyes” on Spain?For a few years we have been witnessing an unparalleled expansion of Chinese brands on the European market. Gr…
Ford is expected to cede part of its underutilized factory in Valencia, Spain, to China's Geely.
19:31 Volvo parent company Geely is taking over one of the production lines at the immense Ford factory in Valencia. In doing so, the Chinese automotive group is once again expanding its presence in Europe. And that may also have ...
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