Xiaomi denies Ford JV report while promising UK investment

A recent media report alleging early-stage partnership discussions between US automaker Ford Motor Company and Chinese tech company Xiaomi has been denied by the latter.

Meanwhile, Xiaomi's CEO and chairman Lei Jun has outlined ambitious investment plans for the United Kingdom in an exclusive interview with China Daily, signaling a strategic focus on European market growth.

According to a report by the Financial Times, people familiar with the matter said that Ford had held exploratory talks with Xiaomi regarding a potential collaboration. Such a partnership, the report suggested, could involve forming a joint venture to produce electric vehicles in the United States.

However, Xiaomi has explicitly refuted these claims. In a statement released on Monday, a Xiaomi spokesperson said, "Reports that Xiaomi is discussing a joint venture with Ford Motor Company are false.

"Xiaomi does not sell its products and services in the United States and is not negotiating to do so."

This clarification comes as Xiaomi charts a clear course for expansion elsewhere.

In his interview with China Daily on Thursday, Lei Jun detailed the company's plans for the UK market. Having operated there for several years and generating approximately 1 billion yuan ($143.9 million) in revenue last year, Xiaomi intends to accelerate its investment.

Lei said the company plans to open around 150 stores across the UK within the next four years. This retail expansion will support the gradual introduction of Xiaomi's full ecosystem of products, ranging from its core smartphones and wearables to home appliances and its recently launched electric vehicles.