Ford Motor and China’s Geely have reached a landmark agreement on July 22 under which the U.S. automaker will sell part of its Almussafes plant near Valencia, allowing Geely to manufacture electric vehicles.
Citing sources familiar with the matter, the deal was expected to be announced during a visit to the Almussafes plant on Thursday by Spanish Prime Minister Pedro Sanchez and Ford Europe President Jim Baumbick.
Ford and Geely did not immediately respond to requests for comment.
