Latest News

Tesla Needs Batteries. This Buffett-Backed EV Maker Will Supply Them ‘Very Soon.’

Text size

BYD launched its Blade battery in 2020.

Qilai Shen/Bloomberg


shares rose on Wednesday after the Chinese electric vehicle maker said it was preparing to supply batteries to Tesla.

“We are good friends with Elon Musk and we are preparing to supply batteries to


very soon,” BYD’s executive vice president Lian Yubo said in an interview with China’s state-owned broadcaster CGTN. Musk is CEO of Tesla (TSLA).

Hong Kong-listed shares of BYD (Ticker: 1211.Hong Kong), which are up more than13% this year, rose 2.8% on Wednesday.

Shares in China’s

Contemporary Amperex

Technology, or CATL (300750.China), which is a key supplier of lithium-ion batteries to Tesla, among others, fell 0.2% to $460. Tesla stock was up 0.7% at 721.53.

BYD, which is backed by

Warren Buffett’s Berkshire Hathaway
launched its lithium iron phosphate (LFP) “Blade Batteries” in March 2020 for use in its own cars as well as working on plans to sell them to other auto makers, including



Write to Lina Saigol at

Futures Movers: Gasoline futures surge to another record as oil pulls back from 3-month high

Previous article

Living With Climate Change: Climate-change warning: Microplastics found in fresh snow in the world’s most remote place

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News