Ford (NYSE:F) has enlisted Renault (EU:RNO) as a strategic partner in an effort to strengthen its European business at a time when Chinese automakers are rapidly expanding their global presence.
“We know we’re in a fight for our lives in our industry, and no better example than here in Europe,” Ford Chief Executive Officer Jim Farley told journalists in Paris.
As part of the agreement, Renault will build two compact electric models for Ford, with the first next-generation EV expected to reach European showrooms in 2028. Ford will take the lead on design while both companies will co-engineer the vehicles using Renault’s technology platform, and production will be carried out at Renault’s northern France plants.
The two automakers are also assessing opportunities for additional cooperation in the van segment, a key pillar of Ford’s presence in Europe.
The deal marks a strategic countermeasure as Chinese manufacturers intensify competition across global automotive markets outside the U.S.