On August 17, during Geely Auto's interim results announcement, An Conghui, CEO of Geely Holding Group, stated that Volvo’s European plants will become a key hub for Geely’s European strategy, with production of premium luxury models from within the Geely Auto Group scheduled to begin in 2028. Additionally, Proton’s Malaysian plant—acquired by Geely—is undergoing technological upgrades to transform it into a Southeast Asian production base with an annual capacity of 500,000 units. Geely’s joint venture plant with Ford in Spain will also produce models from Geely’s portfolio, featuring the same 500,000-unit annual capacity and expected to commence production in 2028. Geely Auto Group also announced it is raising its 2026 export target from 640,000 units to 920,000 units, aiming to challenge the one-million-unit sales milestone. In July this year, Geely and Ford reached an agreement to establish a joint venture in Valencia, Spain. The JV’s first all-new model is slated for launch in 2028, with formal operations planned to begin in the first half of 2027.