US EditionReport: Ford Holds Talks with Chinese Automaker Xiaomi in Possible New Partnership
Ford and Xiaomi both refute reports of a U.S. joint venture amid growing industry pressures and competitive advances by Chinese EV makers, Ford is investing $3.5 billion in Michigan battery plant.
- The Financial Times reported Saturday that Ford held exploratory talks with Xiaomi about a joint venture, citing four people familiar with the matter.
- With Chinese EV makers gaining share, Ford has scaled back EV initiatives and announced about a $19.5 billion hit, while Farley praised Xiaomi amid competition.
- Reporters say a joint-venture model might involve Ford handling assembly in the United States while partnering with Xiaomi on EV technologies or whole vehicles.
- On Monday, both companies denied the story; Xiaomi called the FT report `completely false` and Ford Motor Company told Car and Driver the sources are wrong.
- Looking beyond the talks, Ford plans to start making lithium iron phosphate batteries at a $3.5 billion plant in Michigan this year and held talks last month with BYD about battery imports.
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EV manufacturer Xiaomi reportedly eyes Ford collaboration
Ford reportedly held talks with Xiaomi about manufacturing the Chinese firm’s electric cars in the US. Former US President Joe Biden in effect banned Chinese vehicle imports by imposing a 100% tariff, and his successor Donald Trump added duties on software and hardware. The collaboration would give Xiaomi — which Washington believes has ties to the Chinese military — a beachhead in the US, allowing restrictions to be bypassed, the Financial Time…
Ford and Xiaomi deny report on U.S. EV joint venture talks · TechNode
Ford and Xiaomi denied a Financial Times report that said the two companies had held preliminary discussions on a potential electric vehicle manufacturing partnership in the United States. The report claimed Ford had explored forming a joint venture with Xiaomi to build EVs in the U.S. and had also spoken with BYD about possible cooperation. Ford said the report was “completely false,” while Xiaomi said it is not negotiating to sell products or …
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