Battery supplier BYD in China says it will be supplying Tesla with batteries “very soon”, according to a senior executive speaking to state media on early Wednesday.
“We are now good friends with Elon Musk because we are preparing to supply batteries to Tesla very soon,” said Lian Yubo, BYD executive vice president, reports Reuters. Yubo made the comments to anchor Kui Yingchun from CGTN, China’s state-owned broadcaster.
BYD started out as a battery maker but has since been making automobiles and is the world’s largest maker of electric vehicles and plug-in hybrids.
The company’s Blade battery was launched in 2020, a lithium-iron-phosphate (LFP) battery that was less bulky compared to alternatives in the market and also deemed safer than traditional EV batteries.
Tesla gets LFP batteries from Chinese supplier CATL, with stock being used for vehicles produced at Giga Shanghai. Other Tesla battery suppliers include Panasonic, which is set to produce the former’s new 4680 cells and also LG Energy Solutions.
In Q1, Tesla said almost 50% of its cars manufactured contained more affordable LFP battery packs, versus traditional nickel and cobalt-based batteries used by other electric automakers.
Back in August 2021, it was rumoured Tesla would leverage BYD batteries in 2022. In February of this year, it was again rumoured Tesla was close to inking a deal with BYD for its Blade batteries.
