Overview
- Financial Times reported that Ford explored a U.S. manufacturing joint venture with Xiaomi and also engaged BYD and others, citing unnamed sources.
- Ford called the story completely false, and Xiaomi said it is not negotiating to enter the U.S. market or to form a joint venture with Ford.
- Heavy U.S. trade barriers, including 100% tariffs on Chinese-made EVs and bans on China‑linked vehicle software and hardware, limit potential tie-ups.
- Political scrutiny is intensifying, with House China Committee Chair John Moolenaar warning Ford about supply‑chain risks in a recent letter.
- Investor reaction was cautious as Ford shares dipped modestly, while broader context includes Ford’s $19.5 billion EV writedown, use of CATL-licensed LFP tech in Michigan, and CEO Jim Farley’s public praise of Xiaomi’s SU7.