Adani Group denies report of battery tie-up with China's BYD, Welion

The statement came after Bloomberg reported that the Gautam Adani-led conglomerate was exploring a partnership with BYD to manufacture batteries in India as part of its clean energy expansion

The Adani Group on Monday clarified that it was not in talks with Chinese electric vehicle (EV) manufacturer BYD and battery maker Beijing Welion New Energy Technology for a potential collaboration in India.

 

The statement came after Bloomberg, citing unnamed sources, reported that the Gautam Adani-led conglomerate was exploring a partnership with BYD to manufacture batteries in India as part of its clean energy expansion.

 

An Adani Group spokesperson said: “We categorically deny Bloomberg's report on 4 Aug 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."

 

"The Adani Group is not exploring any form of collaboration with BYD for battery manufacturing in India. Similarly, we are not engaged in any discussions with Beijing Welion New Energy Technology for a partnership of any kind," the statement added.

 

The Bloomberg report claimed that Adani was personally involved in the discussions, which it said had taken place as recently as last week. The report further claimed that any agreement would likely be routed through BYD’s subsidiaries located in other countries, rather than its headquarters in Shenzhen, due to diplomatic tensions between India and China.

 

The Adani Group is one of India’s largest conglomerates with diversified interests across ports, power, renewable energy, airports, mining, data centres, and FMCG. While the Adani Group is not directly involved in the automobile sector now, it has shown interest in the electric mobility ecosystem through EV charging infrastructure and green hydrogen.

 

In April 2024, Adani TotalEnergies E-Mobility Limited, a joint venture of Adani Group and French major TotalEnergies, announced that it was establishing EV charging networks across India, including agreements with Mahindra & Mahindra and MG Motor India to install DC charging points at dealerships and build large super-charging hubs.

 

Shares of Adani Enterprises were trading at ₹2,369.35 apiece at 2.09 pm on the BSE on Monday.