Ford and Xiaomi Deny Reports of US EV Joint Venture Talks
Automotive giant Ford and Chinese technology company Xiaomi have officially denied a recent report by the Financial Times claiming that the two firms held preliminary discussions regarding a potential electric vehicle manufacturing partnership in the United States. The original report alleged that Ford had explored forming a joint venture with Xiaomi to produce EVs domestically and had also engaged in conversations with BYD about possible cooperation. In response, Ford explicitly stated that the report was completely false. Similarly, Xiaomi clarified that it is not currently negotiating to sell any products or services in the U.S. market. The Financial Times article had cited four unnamed sources familiar with the matter and noted that Ford CEO Jim Farley had previously praised Xiaomi’s SU7 electric sedan, even importing one for personal use. This denial highlights the ongoing scrutiny and sensitivity surrounding collaborations between American automakers and Chinese tech firms amidst complex geopolitical and trade dynamics. Both companies aim to dispel rumors that could impact their stock prices or strategic positioning in the competitive global electric vehicle landscape.
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Ford and Xiaomi Deny Reports of US EV Joint Venture Talks
Automotive giant Ford and Chinese technology company Xiaomi have officially denied a recent report by the Financial Times claiming that the two firms held preliminary discussions regarding a potential electric vehicle manufacturing partnership in the United States. The original report alleged that Ford had explored forming a joint venture with Xiaomi to produce EVs domestically and had also engaged in conversations with BYD about possible cooperation. In response, Ford explicitly stated that the report was completely false. Similarly, Xiaomi clarified that it is not currently negotiating to sell any products or services in the U.S. market. The Financial Times article had cited four unnamed sources familiar with the matter and noted that Ford CEO Jim Farley had previously praised Xiaomi’s SU7 electric sedan, even importing one for personal use. This denial highlights the ongoing scrutiny and sensitivity surrounding collaborations between American automakers and Chinese tech firms amidst complex geopolitical and trade dynamics. Both companies aim to dispel rumors that could impact their stock prices or strategic positioning in the competitive global electric vehicle landscape.
TechNode