Aug 20, 2021 - China Evergrande New Energy Vehicle Group responded to rumors of selling shares to Xiaomi that Evergrande Auto had preliminary communications with Xiaomi Group in the process of introducing strategic shareholders but did not advance with in-depth talks.

A Xiaomi spokesperson responded on its official Weibo account, saying that Xiaomi Group has indeed approached car-making teams from various parties for talks up to now, but that Xiaomi Group has not made any resolution on its cooperation intentions. Xiaomi Group will not respond to any market rumors, please refer to the official announcement.

According to media reports on the 19th, three people familiar with the matter said that Chinese real estate developer Evergrande Group is in talks with smartphone maker Xiaomi and a Shenzhen government-backed investment company to sell a portion of its 65% stake in its electric car division.