China's State Administration for Market Regulation (SAMR) has unconditionally approved Zhejiang Geely Holding Group's acquisition of a 34% equity stake in Ford España, S.L., according to the regulator's list of approved concentration of undertakings cases for the September 21-27 period released on October 12.
Under the transaction, Ford held 100% of the target company and exercised sole control before the deal. Upon completion, Ford and Geely Holding will hold 66% and 34% of the shares respectively and jointly control the company, which engages in passenger vehicle business in Spain.
The approval signals Geely's continued deepening of its European footprint through cooperation with a global automaker, leveraging Ford's existing operations in Spain. The partnership model is expected to give Geely additional capacity and market access in Europe as Chinese brands push further into the region.
The approval comes at a time when Chinese automakers are shifting from pure export models to deeper localization — building plants, channels, and service networks in key overseas markets — as part of what industry observers describe as the "second half" of China's auto globalization.
