Ford to invest S$1.2 billion to build the next generation Kuga in Valencia

Ford is investing more than €750 million (S$1.2 billion) to build the next generation Ford Kuga medium-sized Sport Utility Vehicle (SUV) in Valencia, Spain. The new investment brings the total sum invested in Ford's Valencia operations to around €3 billion (S$4.8 billion) since 2011.

"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.

Employing more than 8,000 people across all of its operations, the new investment will help to secure employment at Ford's Valencia site. The investment builds on cost efficiency and productivity improvements by the management team, union partners and workforce.

Today, around 25 percent of all new passenger vehicles sold in Europe are SUVs. The Kuga accounts for close to 50 percent of Valencia's vehicle production volume. European sales of the Kuga so far this year have hit 126,900 units, and represent an improvement of 22 percent compared with the same period in 2016. The Kuga is Ford's third top-selling nameplate in Europe behind the Fiesta and the Focus.