MOTORING giant Ford is investing more than €750 million in Valencia in Spain to bring the total invested in the country since 2011 to around €3billion.
Manufacturing vehicles since 1976, Ford’s Valencia Vehicle Operations and Engine Plant has produced more than 12 million vehicles and 16 million engines, and is one of Spain’s top automotive exporters.
Around 90 percent of Valencia’s vehicle production is exported to more than 75 countries worldwide, including the United States.
The company plans to build the next-generation Ford Kuga medium-sized Sports Utility Vehicle at the plant.
The SUV accounts for close to 50 percent of Valencia’s vehicle production volume.
Kuga is Ford’s third top-selling model in Europe behind the Fiesta and Focus. And European sales of Kuga so far this year at 126,900 are an improvement of 22 percent compared with the same period in 2016.
Valencia is also the sole source of production for the Tourneo Connect people-mover and Transit Connect light commercial vehicle models, and for the full range of Ford’s Mondeo, S-MAX and Galaxy models.
“This major investment of more than €750 million reconfirms in the clearest way our continuing commitment to the Valencia region and to Spain as one of our most important manufacturing locations in Europe,” said Steven Armstrong, president and CEO, Ford of Europe, Middle East and Africa.
“I also want to thank the national government in Madrid and the Generalitat Valenciana for their continued support, and for their ongoing work to maintain a favourable climate for business investment in the Valencia region.”
Employing more than 8,000 people across all of its operations, the new investment will help to secure employment at Ford’s Valencia site. The investment builds on cost efficiency and productivity improvements by the management team, union partners and workforce.