On March 30, at Xiaomi's spring new product launch conference, Lei Jun announced a heavy news that Xiaomi decided to enter the automobile manufacturing industry. Once the news of Xiaomi making cars was announced, it also attracted widespread attention from netizens and car fans. On April 8th, according to a report from "Yuguan Auto Market", "Borgward Motors had the deepest talks with Xiaomi Motors before, but the negotiations are now at a stalemate." Lu Zhengyao is currently in a capital dilemma and continues to sell his assets back to life. . It is understood that in 2018, UCAR purchased a 67% stake in Baowo from Foton Motor through its shell company Changsheng Xingye. In addition, Borgward's performance has plummeted this year. In 2020, Borgward has sold 8,740 new cars, a sharp drop of 84% year-on-year. After all, at the current time node, Xiaomi Auto is already a late entry character.