Tesla, BYD deny ending battery supply cooperation

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Tesla, BYD deny ending battery supply cooperation

Published on: Tuesday, March 14, 2023

Published on: Tue, Mar 14, 2023

By: Reuters, FMT

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Tesla, BYD deny ending battery supply cooperation

Tesla reportedly did not order additional BYD batteries for certain Model 3 EVs after their supply deal expired. (Tesla pic)

SHANGHAI: Tesla Inc CEO Musk and Chinese electric vehicle and battery maker BYD Co Ltd on Tuesday denied a media report that said the US company was ending cooperation with BYD on battery supplies.

The Korean Economic Daily on Sunday cited industry sources as saying Tesla had not asked BYD for an additional supply of batteries for certain Tesla Model 3 vehicles after their supply deal expired earlier this year.

“That media report is false. Relations between Tesla and BYD are positive,” Musk said in a tweet on Tuesday.

In a statement to Reuters, BYD said that the report “is not in line with the actual situation”.

BYD executive vice president Lian Yubo in June told Chinese state-owned broadcaster CGTN that BYD was preparing to supply Tesla with batteries “very soon”. Neither company have publicly disclosed any deal since.