The Chinese automotive company Geely Holding has completed a payment of 221 million euros to acquire a 34% stake in a new joint venture with the American manufacturer Ford. This partnership is established to manage the Ford production plant located in Almussafes, Valencia, Spain.
The transaction values the newly formed joint entity at approximately 650 million euros. This move represents a strategic shift in the management and operation of the Almussafes facility, integrating the Chinese automaker into the governance of the Spanish plant alongside Ford.
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