Ford held talks with China’s Xiaomi over EV partnership: report

Ford held talks with China’s Xiaomi over EV partnership: report

Ford has held talks with electric-vehicle maker Xiaomi about forming a three way partnership to fabricate EVs in the US, the Financial Times reported on Saturday, citing people acquainted with the matter.

A Ford spokesperson denied the FT report, calling it “completely false” in an X put up. A Xiaomi spokesperson also dismissed the report.

“Xiaomi does not sell its products and services in the United States and is not negotiating to do so,” said the Xiaomi spokesperson.

A Ford spokesman has denied the Financial Times report that it’s in talks with Chinese vehicle-maker Xiaomi. REUTERS

Some major US automakers and lawmakers are involved about Chinese government-backed automakers and battery producers gaining entry to the US to open manufacturing vegetation, arguing the trade’s future is at stake.

Earlier this week, the Republican chair of a US House committee despatched a letter to Ford CEO Jim Farley asking about whether or not the automaker plans to kind a three way partnership with Chinese automaker BYD, and warning about potential dangers.

“China has already shown in recent months that it will weaponize the auto supply chain. This is a serious vulnerability and it would only get worse if Ford enters into a new partnership with BYD,” Michigan Rep. John Moolenaar said in the letter despatched on Wednesday.

Moolenaar also raised considerations about the automaker’s plans to build a $3 billion data middle making batteries with technology from Chinese company CATL.

A Xiaomi spokesperson has denied the FT report. SOPA Images/LightRocket through Getty Images

North American automakers have scaled again their expensive EV push after struggling to maintain tempo with Chinese rivals, shedding out on tax credit and pivoting towards cheaper fashions and hybrids instead.

Ford said in December last yr it will take a $19.5 billion writedown and scrap a number of EV fashions.

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