Geely climbs on deal to make electric SUVs at Ford Spain plant

Geely Automobile Holdings

24/07/2026 07:31

** Shares of Geely Automobile 0175.HK climb 4.2% to HK$19.3, on track for biggest one-day pct gain since July 16
** Geely will build two electric SUVs at Ford's F.N factory in Spain and the two firms will jointly develop a new model, they said on Thursday, as Chinese automakers race to use traditional carmakers' underutilized factories ahead of European local-content rules
** Citi, with "buy" rating on the stock, says the deal represents a landmark breakthrough in co's long‑term European expansion strategy and should help Geely penetrate car production in EU
** "The shift from exporting finished vehicles to local-market production should allow Geely to monetise its EV technology via licensing and contract manufacturing revenue, creating a new model for Chinese automotive technology-exports to Europe" - Citi
** YTD, stock up 6.7%, while benchmark Hang Seng Index .HSI down 3%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))