Ford and Xiaomi Deny US EV Joint Venture Reports

Ford Motor Company and Chinese tech giant Xiaomi Corp. have denied reports of discussions for a potential joint venture to manufacture electric vehicles in the United States, following a story in the Financial Times claiming preliminary talks had occurred.

The Financial Times, citing people familiar with the matter, reported on Saturday that the two companies explored a partnership that would allow Xiaomi to produce its EVs at Ford facilities in the US. Such an arrangement could have enabled Xiaomi to bypass high tariffs on Chinese-made vehicles and enter the American market more easily. The report described the discussions as early-stage and noted that Ford has held similar talks with other Chinese automakers, including BYD Co.

Xiaomi quickly dismissed the claims in an official statement, saying, "This report about a joint venture with Ford Motor Company is completely false. Xiaomi does not sell its products and services in the United States and is not negotiating with any companies to do so." Ford echoed the denial, with Chief Communications Officer Mark Truby stating that the original story was "completely false, without any truth to it." A Ford spokesperson further described...