MADRID, Nov. 17 (Xinhua) -- Ford on Thursday announced a 750-million-euro (885 million U.S. dollars) investment in its Almussafes factory in the eastern Spanish city of Valencia, according to local media.
The investment is meant for manufacturing the latest model of its Kuga 4x4 vehicle.
The Kuga is a very important vehicle and one of the company's bestsellers, Dirk Heller, director of Ford Land Europe, said, following a meeting with Ximo Puig, president of the Valencia Autonomous Community (VAC).
He thanked Puig for the continued support of the Valencia regional government and the central government in Madrid, adding that Valencia would be the only producer of Kuga in Europe.
Thanking Ford for showing confidence in the region, Puig said the investment was especially important for Valencia's economy and VAC's future in terms of prosperity and employment.
