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EU Probes Spain’s Aid to Ford
European Union anti-trust watchdogs have opened an investigation into whether the Spanish government's €25 million grant ($32 million) to Ford Motor Co. violated anti-competition rules.
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European Union anti-trust watchdogs have opened an investigation into whether the Spanish government's €25 million grant ($32 million) to Ford Motor Co. violated anti-competition rules.
Spain agreed last year to grant the funds to help Ford with a €420 million ($541 million) upgrade of its assembly plant in Valencia, Spain, to produce the next-generation Transit Connect small commercial van.
EU law bars government aid that would boost capacity more than 5% in a shrinking market. Anti-trust regulators say the Valencia project may exceed those limits. Ford contends the grant complies with EU law.
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