Tesla, US automakers under threat by Chinese joint ventures [Yahoo! Finance]
Tesla, Inc. (TSLA)
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Source: Yahoo! Finance
Over the weekend, the Financial Times reported Ford F held talks with Chinese device and automaker Xiaomi ( XIACY ) about forming a joint venture to manufacture electric vehicles (EVs) in the US. The FT said four separate sources collaborated on the story. This isn't the first time Ford has reportedly been talking to a Chinese EV maker about a potential tie-up. Earlier this year, the Wall Street Journal claimed Ford was talking to EV giant BYD about a battery collaboration in the US. Tesla stock dropped nearly 3% in early trade. Ford's top communications spokesperson posted on X.com that the FT "story is completely false. There is no truth to it." Xiaomi also added its statement on X.com : "This report about a joint venture with Ford Motor Company is completely false. Xiaomi does not sell its products and services in the United States and is not negotiating with any companies to do so." Nonetheless, the threat to Tesla's EV business, and even to legacy automakers like Gener
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