Ford Motor Co. and Xiaomi denied on Sunday a Financial Times report that the two companies held discussions about forming a joint venture to build electric vehicles in the United States.
“This story is completely false. There is no truth to it,” Ford said in a statement.
The Financial Times reported Saturday, citing four people familiar with the matter, that while the discussions were preliminary, Ford had explored forming a joint venture with Xiaomi to manufacture EVs in the US.
“Reports that Xiaomi is discussing a joint venture with Ford Motor Company are false,” a company spokesperson said Sunday. “Xiaomi does not sell its products and services in the United States and is not negotiating to do so.”
The Biden administration effectively banned Chinese vehicles from the US market in 2024 by quadrupling tariffs on vehicles imported from China to 100%.
The Biden administration also banned Russian and Chinese software and hardware in connected vehicles, effectively blocking companies such as Xiaomi and BYD from selling EVs in the US.
The Trump administration has also maintained those restrictions despite the US President having noted last month that he would like to see Chinese automakers build their EVs in the country.
Farley’s Praise for Xiaomi
Ford CEO Jim Farley has publicly praised Xiaomi‘s debut model and revealed he personally drove the company’s SU7 sedan for several months.
Speaking on the Everything Electric Show podcast in October 2024, Farley described his trips to China as “epiphanies.”
“The last one was about the Xiaomi product, because in the West, our cell phone companies are not into cars. They don’t have car companies. But in China, both Huawei and Xiaomi, the two biggest cell phone companies, are inside of every vehicle that is made,” Farley said.
The executive revealed he had exported a Xiaomi SU7 from Shanghai to Chicago and had been driving it for six months [as of
“I don’t like talking about the competition so much, but I drive the Xiaomi. We flew one from Shanghai to Chicago, and I’ve been driving it for six months now and I don’t want to give it up,” Farley said.
The Chinese giant is planning to begin vehicle deliveries in Europe next year.
Five-Month Low
Xiaomi said earlier this Sunday that it delivered “over 39,000” vehicles in January, its weakest month since August.
The figures represent a 70% increase from a year ago, when deliveries of the YU7 SUV had not yet started, but a 20% decline from December.
The Chinese giant did not disclose exact figures.
However, monthly delivery data will be released by the China Passenger Car Association later in the month.
Last year, Xiaomi registered 411,837 EVs in China, surpassing its final target of 400,000 vehicles.
Co-founder and CEO Lei Jun announced last month a 550,000-unit target for 2026, up 34% from 2025.
