On July 23, GEELY AUTO rose 3.01% in regular trading, trading at HK$18.47/share, with turnover of HK$221 million. The rally was driven by reports that Ford Motor and Geely have reached a landmark agreement to share a vehicle assembly plant in Spain.

According to multiple media reports, Ford will sell part of its Almussafes factory near Valencia, Spain, to Geely, clearing the path for Geely to produce electric vehicles locally within the EU. Under the agreement, Geely plans to manufacture the EX2 electric model using an idle assembly line at the facility. Spanish Prime Minister Pedro Sanchez is expected to formally announce the deal on July 23. This move enables Geely to circumvent EU tariffs on Chinese-imported EVs and directly access the European market, while Ford benefits from reduced fixed costs and preserved local employment.

CMB International previously noted that European production capacity cooperation reflects Geely's highly flexible overseas strategy. The broker maintained an Overweight rating with a target price of HK$36, citing the company's accelerating European localization and sustained overseas expansion.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)