Ford Investing €750M for Kuga Production at Valencia Vehicle Operations and Engine Plant
To help support manufacturing of the next-generation Ford Kuga SUV, Ford is investing in excess of €750 million (approximately $896,422,500 USD) at its Valencia Vehicle Operations and Engine Plant. The investment brings the total amount devoted to Valencia operations since 2011 to approximately €3 billion (approximately $3.6 billion USD).
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“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 favorable climate for business investment in the Valencia region,” Armstrong added.
Ford will announce additional details pertaining to the investment and the new Kuga closer to the latter’s launch in 2018. It has been noted that the investment will “secure employment” at the facility and “[build] on cost efficiency and productivity improvements by the management team, union partners and workforce.”
Currently, Ford employs more than 8,000 people at Valencia, which is expected to become an even more essential component of European operations with the addition of the new Kuga. Nearly 50% of the output at Valencia is devoted to the Kuga, which is Ford’s third-best-selling nameplate in Europe behind Fiesta and Focus. Valencia also produces the Tourneo Connect, Transit Connect, Mondeo, S-MAX, and Galaxy.
Ford opened its Valencia Vehicle Operations and Engine Plant in 1976; in the more than 40 years since, it has produced some 12 million vehicles and 16 million engines, about 90% of which is exported to global markets.
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