Earlier today, it was reported that was in talks with Great Wall Motor to use its factory to build electric cars. In response, a Xiaomi executive dismissed it as fake news.

Xu Jieyun, deputy director of Xiaomi Group's general affairs office, commented in a Weibo retweet of the report, "This is fake news that is complete nonsense."

Reuters earlier cited sources familiar with the matter as saying that Xiaomi and Great Wall could announce a partnership as soon as next week.

Great Wall, which has never provided manufacturing services to another company before, will provide engineering consulting services to Xiaomi this time to speed up the project, the report said.

Both companies plan to announce the partnership as early as early next week, said one of the people familiar with the matter.

In response to the report, Chinese media quoted Xiaomi as responding, "Everything is subject to the announcement."

Great Wall vice president Xiaokang Fu said he would not comment, but said the company is committed to uniting industry chain stakeholders to create an open ecological platform and build a stronger ecosystem.

"We welcome all partners from related industries to work together for development and the future," he said.

Later, Great Wall issued an announcement saying that the report was not true and that the company had not entered into negotiations with Xiaomi on the above matter.

Xiaomi reportedly in talks with Great Wall to use its factory to build electric cars