Ford Europe, the European arm of Ford Motor Co. (F), is investing more than 750 million euros ($883.2 million) in its Valencia, Spain, plant for the production of the new Kuga model, the company said Thursday.
The Kuga model accounts for close to 50% of the production volume at the Valencia plant, and is the most-sold model in Europe behind the Fiesta and Focus, Ford Europe said.
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The investment brings the total sum invested in Ford's Valencia operations to around EUR3 billion since 2011.
The investment confirms Ford's commitment to Spain as one of its most important manufacturing hubs in Europe, the company said.
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(END) Dow Jones Newswires
November 17, 2017 02:22 ET (07:22 GMT)