01:36 PM EDT, 03/28/2024 (MT Newswires) -- Ford Motor ( F ) is reportedly considering manufacturing a new sports-utility vehicle at its facility in Valencia, Spain, according to media reports Thursday.

"We are closely monitoring the evolution of the European markets for opportunities to enhance our current product offering," Ford told Reuters.

The company plans to "maintain sufficient workload" at the factory while awaiting decisions on the future of electrification, Chief Executive Jim Farley told UGT, a worker's union at the plant, on Wednesday, Spanish newspaper CincoDias reported Thursday.

Ford didn't immediately respond to MT Newswires' request for comment.

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