In a significant development, Ford Motor Co. (NYSE:F) has announced plans to enhance production at its Valencia plant in Spain. The automaker aims to assemble 300,000 units of a new model annually starting in 2027.
What Happened: Spain’s Industry Ministry confirmed Ford’s decision to boost production at its Spanish plant, Reuters reported on Friday. The automaker had previously hinted at this move in March when it disclosed its consideration for the production of a new sports utility vehicle (SUV) at the Valencia facility.
The Industry Ministry praised the move, stating, “It is a model that will guarantee the workload for this factory and prepares it for the future.”
The Valencia plant, currently employing 4,800 people, is where Ford assembles its Kuga SUV. The production of other models at this plant has been reduced in recent years.
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