Musk, China’s BYD deny report on Tesla ending battery supply cooperation
TESLA chief executive Elon Musk and Chinese electric vehicle and battery maker BYD on Tuesday (Mar 14) 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 ask 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. REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results