Ford Motor Company has announced it is completing the final part of a $2.6 billion (Rs 16,425 crore) investment in its Valencia, Spain, manufacturing operations, transforming it into one of the world’s most advanced, flexible and productive auto plants. The investment consisted of an initial $1.25 billion (Rs 7900 crore) announced in 2011, followed by a further $1.37 billion (Rs 8550 crore) since 2013.

The investment by Ford is the largest in the history of Spanish auto industry and will allow the Valencia plant to increase vehicle production by 40 percent this year to about 400,000 vehicles, and will have the capacity to potentially build up to 450,000 vehicles a year.

Valencia also is today one of Spain’s top automotive exporters, with 80 percent of its production being exported worldwide.

Ford now employs about 8,000 people at the facility, up from just below 5,000 in early 2013. Supplier operations supporting Valencia production also have added 1,500 jobs since 2013.

“This world-class facility will help Ford’s accelerate its growth in Europe and around the world,” said Mark Fields, Ford president and CEO. “Valencia is not only a major hub of production – building vehicles and engines exported to 75 countries worldwide – but also a centre of innovation employing some of the industry’s most advanced lean, flexible and environmentally friendly manufacturing processes.”

“Ford is the engine behind automotive industry growth in Spain,” said Jose Machado, chairman, Ford of Spain. “The combination of innovative product, forward-looking investment, strong local relationships, and hardworking, flexible employees will continue to deliver meaningful progress in improving our overall business in Europe.”

The plant currently builds the all-new Mondeo wagon, five-door, and four-door including the Mondeo Hybrid, Kuga SUV, Transit Connect light commercial vehicle and Tourneo Connect people-mover. The all-new S-MAX multi-activity vehicle, Galaxy seven-seat people-mover and the Vignale Mondeo go into production later this year.

Valencia will be the sole European production source for all six Ford nameplates assembled at the plant.