Summary
Reports that Ford held discussions with Xiaomi about creating a U.S.-based electric-vehicle joint venture were published over the weekend. Ford has denied the account, calling it "completely false," while both companies did not immediately reply to requests for comment. The issue has tapped into ongoing anxieties among industry participants and lawmakers about Chinese automakers and battery suppliers gaining manufacturing presence in the United States.
Details
Over the weekend, a media report said Ford spoke with Xiaomi about forming a joint venture to produce electric vehicles in the United States. The automaker publicly rejected the claim, describing the report as "completely false." The two companies did not immediately respond to requests for comment from other outlets seeking confirmation.
Officials and executives in the U.S. auto industry, as well as some members of Congress, have expressed worry about Chinese government-backed automakers and battery manufacturers entering the U.S. market to open production facilities. They argue such moves could carry strategic and industrial consequences for the domestic auto supply chain.
Earlier this week, the Republican chair of a U.S. House committee sent a letter to Ford CEO Jim Farley asking for details about the automaker's reported plans to form a joint venture with Chinese automaker BYD and warning of possible risks. "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," Representative John Moolenaar wrote in the letter sent on Wednesday. The letter also raised questions about Ford's plan to build a $3 billion data center for battery production that would use technology from Chinese firm CATL.
North American automakers have pulled back from an aggressive, costly push into electric vehicles after difficulty matching Chinese rivals on cost and execution. The result has included missed opportunities for tax credits and a shift in focus toward lower-priced models and hybrid vehicles in some cases.
Ford itself disclosed in December that it would take a $19.5 billion writedown and cancel several planned EV models as part of a re-evaluation of its EV strategy.
Investor tool mention
The original coverage also referenced an AI-based stock evaluation tool that assesses Ford (ticker: F) alongside many other firms. That tool reportedly uses over 100 financial metrics to evaluate fundamentals, momentum, and valuation, and cited past winners including Super Micro Computer (+185%) and AppLovin (+157%).
Contextual note
Available information about the reported talks is limited; the companies involved have issued denials or not responded to inquiries, and lawmakers have signaled additional scrutiny of foreign-linked automotive partnerships and supply chain dependencies.