Geely has raised its export target to 920,000 vehicles by the end of 2026, a 43% increase on its previous forecast of 640,000 units. The Chinese automotive group announced the revision as it looks to offset declining demand at home by pursuing international markets. Its planned 34% investment in Ford España adds a European manufacturing route to that strategy. The reported €221 million transaction concerns the company operating Ford’s Almussafes plant in Valencia, not Ford’s Spanish operations as a whole.
Figures cited by elespanol motor show that Geely’s updated export plan allocates 300,000 vehicles to Southeast Asia, 200,000 to Western Europe, another 200,000 to Eastern Europe, 200,000 to Latin America and Africa combined, and 100,000 to the Middle East and Asia Pacific. The company ultimately aims to sell one million vehicles outside China within the year, up from the 420,097 vehicles it exported in 2025.
Ford is set to retain a 66% controlling interest in the Almussafes venture, while Geely will hold 34%. China’s State Administration for Market Regulation included the acquisition in its unconditional merger-clearance decisions published on 12 October 2026, following its review of concentrations of undertakings for 21-27 September. That clearance covers the Chinese regulatory stage; the venture still requires relevant authorizations before it can begin operations. The companies announced their Europe-focused manufacturing plan on 23 July. The venture is expected to start operating in the first half of 2027, with vehicle production scheduled to begin in 2028.
The planned production program includes two Geely electric SUVs alongside Ford models. Reports describe a five-model lineup, with annual capacity estimated at roughly 400,000 to 500,000 vehicles. Almussafes produced about 90,000 vehicles in 2025. The arrangement would use the existing Spanish workforce and plant, giving Geely a localized European production base while Ford remains the majority owner. It is also part of a broader effort to maintain activity at the Valencia facility as Ford restructures its European manufacturing operations.
Exports drove much of Geely’s growth in the first half of the year. Between January and June, the group sold 474,228 vehicles abroad, up 158% from the same period last year. That figure already exceeds the company’s total exports for 2025 and represents a third of its overall sales. Vehicles powered by new energy technologies accounted for 277,189 exports, up 585% year on year and making up 58% of the total.
Exports of the Geely marque rose 138% in the first half, reaching 395,392 units. Sales of the brand’s new energy models increased 752%, to 202,052 vehicles. The company has also introduced three export-focused models: the Geely EX5, based on the Geely Galaxy E5 and known as Geely E5 in Spain; the Geely EX2, based on the Geely Xingyuan; and the Geely EX5 EM-i, based on the Geely Galaxy Xingjian 7, also called Geely Starray EM-i or Geely E5 EM-i in some markets. The EX5 led C-segment battery-electric SUV sales in nine markets, including Australia and Brazil. The EX2 topped B-segment battery-electric hatchback sales in seven markets, such as Indonesia and Mexico. The EX5 EM-i led C-segment plug-in hybrid SUV sales in 11 markets, including Australia and Mexico.
Geely is targeting total global sales of 3.45 million vehicles in 2026, with 29% destined for export. That would be a 14% increase on its 2025 sales of 3.02 million units. The company’s international expansion reflects a wider shift among Chinese automakers, which are increasingly looking abroad as competition and market saturation intensify at home. A Geely Holding Group executive described the strategy this way: “Our strategy is clear: as domestic competition intensifies, global markets become the basic growth engine for the next decade.”
Geely’s Zeekr brand recently launched its Zeekr X compact SUV in Spain, offering up to 405 km of range and advanced features as it seeks to challenge established European players. For more on the launch, see the recent debut of Zeekr X in Spain.
