Adani To Tie-Up With BYD To Make Electric Car Batteries In India? Truth Vs Hype
Adani Group, headed by Gautam Adani is looking to mass-produce batteries in India. A recent Bloomberg report claimed that the billionaire is in talks with Chinese EV giant BYD for the same. The news soon went viral, triggering a response from the conglomerate itself. Adani Group has denied the report. Let's delve into the details of this...
Adani In Talks With BYD- Report
The report claims that Adani himself has been holding discussions with BYD executives around the possibilities of a partnership. A person reportedly told the publication that such discussions have happened as recently as last week.
It further explains that due to the geo-political tensions that exist between India and China, any partnership would be signed between BYD's subsidiaries in the country, and not with the headquarters in China, if the deal goes through.
Adani Group already has a strong presence in the solar power generation sector. It has also revealed its intention to foray into making lithium-ion cells for use in EV batteries. The Chinese lead the battery game. BYD, in particular, is known to have some of the best battery technology in business. The report says that Adani might have thought of securing a technology agreement likely due to this. It further noted that the discussions are in a preliminary stage and may not progress.
The India-China tensions are so fierce that our government hasn't granted visas to BYD's Indian business heads and the same has forced them to hold key meetings in neighbouring countries- says the report.
BYD is in fact, pushing aggressively to enter new markets, as it is nearing saturation in China, and the US operations were halted due to high tariffs. Presence in populous countries like India will be of great use to its business goals. Many of the electric vehicles sold in India use BYD-sourced battery packs- the Mahindra XEV 9e, BE6, and the upcoming Suzuki eVitara are all examples. The company also sells electric vehicle (EV) models like the EMax7, Atto3, Seal and Sealion 7.
Circling back, it is possible for Adani Group to rely on other manufacturers ( the Koreans for instance) for battery technology. The challenge here is the value proposition. In today's environment, Chinese players offer unmatched price-value propositions on EV and battery technologies.
The report also says the Indian business tycoon has also been talking to other companies like the Beijing Welion New Energy Technology, and is not keeping the scope limited to BYD alone. It further says that 'some companies received Adani and his entourage like state officials during his recent trip to China, while others made up excuses to deny him entry into their premises.' Interestingly, this trip was kept largely undercover.
Fact: Adani Group Won't Make EV Batteries With BYD In India
Soon after the report went viral, Adani Group issued a statement, denying the speculation. It has confirmed that no partnership with BYD and Beijing Welion is to be expected.
The official spokesperson said in a statement: “We categorically deny Bloomberg's report on 4 August 2025 suggesting a tie-up between the Adani Group and Chinese companies BYD and Beijing Welion New Energy Technology. This report is baseless, inaccurate and misleading.” He reaffirmed that Adani Group is “not exploring any form of collaboration with BYD for battery manufacturing in India." and is not 'engaged in any discussions with Beijing Welion New Energy Technology for a partnership of any kind.'
The group has neen expanding its energy business aggressively in the last few yeaars. Back in 2022, it had announced intentions to invest over $70 billion in renewable energy projects.