Ford Denies Xiaomi JV Talks, Eyes BYD Battery Supply for Hybrids
Ford Motor Co. has denied talks with Xiaomi over an electric-vehicle joint venture following media reports of discussions. The company is separately exploring a battery supply agreement with BYD Co. Ltd. to support its upcoming hybrid vehicle lineup.
1. Rumors of Xiaomi Joint Venture and Ford’s Denial
In early February, reports suggested Ford was in discussions with Xiaomi to form an electric-vehicle joint venture. Ford issued a public statement refuting the rumors, emphasizing there are no active talks or plans to collaborate with the Chinese tech firm on EV manufacturing.
2. Exploration of BYD Battery Supply Partnership
Ford is in exploratory talks with BYD Co. Ltd. to secure battery cells for its next-generation hybrid models. A deal with BYD, one of the world’s largest battery producers, could help Ford mitigate component shortages and reduce costs for its hybrid vehicle program.
3. Position in the U.S. EV and Hybrid Market
Despite these partnership developments, Ford faces intense competition in the U.S. EV market, where Tesla holds over 58% share. Strengthening its hybrid lineup through reliable battery sourcing is central to Ford’s strategy to diversify beyond electric and internal-combustion models.