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Ford and Xiaomi deny report on U.S. EV joint venture talks
Ford and Xiaomi refute a Financial Times report claiming they discussed a joint venture for U.S. electric vehicle manufacturing. Both companies describe the report as false, with Ford emphasizing no ongoing negotiations, while Xiaomi clarifies its lack of intentions to sell in the U.S. market.
Key points
- 1. Financial Times reported preliminary talks between Ford and Xiaomi about an EV partnership in the U.S.
- 2. Ford denied the report, calling it 'completely false'.
- 3. Xiaomi stated it is not in negotiations to sell products or services in the U.S.
- 4. The report also mentioned Ford's discussions with BYD for cooperation.
- 5. Ford CEO Jim Farley has previously praised Xiaomi’s EV model, the SU7.
Why it matters
- The report highlights ongoing interest in electric vehicles as major auto manufacturers seek partnerships.
- This event reflects the competitive landscape in the EV market, emphasizing the intersection of automotive and tech sectors.
- By 2025, major automakers and tech companies are likely to increasingly explore alliances to enhance their EV capabilities.
The swift denial from both Ford and Xiaomi underscores the complexities of partnership discussions in the rapidly evolving EV sector, echoing broader industry trends as companies navigate collaboration opportunities.