Adani Group Denies Tie-Up With Chinese EV Firm BYD For Battery Manufacturing
The Adani Group has refuted reports suggesting any collaboration with Chinese electric vehicle manufacturer BYD and Beijing Welion New Energy Technology for battery production in India.
On Monday, the Adani Group rejected the claims that it was exploring a partnership with Chinese EV giant BYD for battery manufacturing in the country, calling the report “baseless, inaccurate, and misleading.”
“We are also not in any form of discussion with Beijing Welion New Energy Technology regarding any kind of partnership,” the group added in a statement.
Shares of Adani Enterprises rose by 0.44 per cent in intraday trade on Monday, reaching ₹2,361 per share. The stock opened at ₹2,373 apiece, compared to its previous close of ₹2,350.55 per share.
Earlier, a Bloomberg report had stated that the Adani Group was exploring a partnership with BYD to manufacture batteries in India as part of its broader clean energy ambitions. The report also claimed that Gautam Adani was personally leading the talks with senior BYD executives last week.
