Tesla may have a new battery supplier soon for its EVs in the form of China’s BYD. In a short clip that aired on Chinese state television, BYD executive vice-president Lian Yu-bo said [via Reuters]:
We are now good friends with Elon Musk because we are preparing to supply batteries to Tesla very soon.This is the official confirmation of any kind of a supply deal between the two, although reports and rumors have circulated for some time.
BYD is one of the largest EV manufacturers in the world, and is one of the few that’s vertically integrated.
Aside from designing and manufacturing their own battery electric vehicles, BYD also designs and manufactures its own electric motors and batteries. Just recently, they even got more directly involved in the mining of lithium—a key component in EV batteries.
Although no details of the supply deal between BYD and Tesla have come out, it’s likely that Tesla is interested in the Chinese EV manufacturer’s Blade Battery.
The lithium-iron-phosphate battery which Tesla also uses in certain models is cheaper and safer (it will not catch fire) than other alternatives in the market.
The technology has also caught the attention of Toyota as well which will use them in their upcoming EV sedan.
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