Stock Track | GEELY AUTO Soars 5.02% Intraday as Ford Spain Acquisition Boosts European Expansion Optimism

Stock Track

Jul 29

GEELY AUTO shares surged 5.02% during intraday trading on Wednesday, fueled by sustained investor enthusiasm over the company's strategic acquisition of a 34% stake in Ford's Valencia, Spain factory for EUR 221 million.

The deal, which establishes a joint venture for contract manufacturing of pure-electric SUV models under the Geely brand starting in 2028, is widely viewed as a milestone in the automaker's long-term European localization strategy. The investment will be accounted for as an associate at approximately 0.35 times Ford Spain's book value, signaling a financially prudent expansion.

Multiple major institutions have endorsed the move. Bank of America reiterated a Buy rating with a target price of 29.30 HKD, highlighting strong export growth and improving profitability. Citibank maintained its Buy rating and 30 HKD target, while JPMorgan named GEELY AUTO its top pick for the second half, noting that first-half overseas exports surged 158% year-on-year to 474,228 units, already exceeding the full-year total from last year.

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