
Please try another search
By Michael Elkins
Tesla (NASDAQ:TSLA) CEO Elon Musk and Chinese electric vehicle and battery maker BYD (OTC:BYDDY) on Tuesday denied media reports saying the U.S. electric vehicle maker was ending cooperation with BYD on battery supplies.
The Korean Economic Daily on Sunday cited industry sources as saying Tesla had not asked BYD for an additional supply of batteries for certain Tesla Model 3 vehicles after their supply deal expired earlier this year.
"That media report is false. Relations between Tesla and BYD are positive," Musk said in a tweet on Tuesday.
BYD also issued a statement about the report. The Chinese automaker, whose automotive division is also one of Tesla’s strongest competitors in China, denied the report in a statement to Reuters saying the report "is not in line with the actual situation."
In April 2022, the European Union approved the Model Y with BYD batteries. The Model Y with BYD batteries was listed with a 55kWh battery pack. It had a range of 440 kilometers.
Shares of TSLA are up 5.04% in mid-day trading on Tuesday.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.