Valencia: Ford and Chinese automotive company Geely Auto announced plans on Thursday to jointly manufacture low- and zero-emission vehicles at Ford's Valencia, Spain factory.

According to Emirates News Agency, the joint venture, pending regulatory approval, will be owned two-thirds by Ford and one-third by Geely. Geely also owns brands such as Volvo and Polestar. This partnership is unfolding amid challenges for the American electric vehicle market and increasing global geopolitical tensions driven by U.S. tariff policy.