Adani Denies Talks With BYD, Says No Partnership In Battery Tech Or EVs

Adani Enterprises Ltd on Monday denied claims that it was in talks with China-based BYD or Beijing WeLion New Energy Technology for electric vehicle or battery manufacturing partnerships.

In an exchange filing, the company called the media report “baseless, inaccurate, and misleading” and said it was not engaged in any discussions of that kind.

The clarification came after a Bloomberg report claimed that Adani was personally involved in talks with BYD over EV and battery plans in India as part of its clean energy push.

Adani Enterprises said it has steadily ramped up its green energy initiatives through its group companies in recent years. It aims to procure 50% of its energy from renewable sources by 2026.

Its subsidiaries are already active in the green mobility space. In May, the group deployed India’s first hydrogen-powered truck for mining logistics through Adani Natural Resources and Adani New Industries. The latter is also involved in battery manufacturing.

The company has also invested in green hydrogen tech to develop Asia’s first hydrogen fuel cell electric truck and committed to invest up to USD 100 billion over the next decade on green transition.