Adani Group denies any collaboration reports with BYD and Beijing Welion New Energy Technology

Mint

11 hours ago

Adani Group on Monday strongly refuted recent media reports suggesting any form of collaboration with Chinese companies BYD or Beijing WeLion New Energy Technology for battery manufacturing or clean energy ventures in India.
In an official filing to the stock exchanges, Adani Enterprises Ltd — the flagship entity of the conglomerate — dismissed the report published by Bloomberg on August 4, 2025, which claimed that the group was exploring strategic partnerships with the two Chinese firms.
'No collaboration being explored,' says Adani Group
'We categorically deny Bloomberg's report 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 company said in its statement.
The group clarified that it is not exploring any form of collaboration with BYD for battery manufacturing in India, nor is it in discussions with Beijing WeLion for any kind of partnership.
Earlier in the day, Bloomberg reported that the Adani Group was in discussions with Chinese electric vehicle (EV) giant BYD to establish a battery manufacturing partnership in India. The potential tie-up, according to the report, was seen as part of Adani's broader strategy to expand into clean energy and lithium-ion cell production.
As per the Bloomberg article, Gautam Adani was said to be personally steering the negotiations with BYD, with meetings reportedly taking place as recently as last week. The proposed collaboration aimed to support large-scale manufacturing of lithium-ion batteries, which are vital for both electric mobility and stationary energy storage systems.
The report highlighted that Adani's existing dominance in solar power generation, combined with BYD's leadership in battery technology and its position as the world's largest EV seller, made them natural allies in the clean energy space. Bloomberg also pointed out that Chinese firms continue to lead in affordable and advanced rechargeable battery technology, a domain considered crucial for achieving Adani's ambitious green energy goals.
Furthermore, the report suggested that these talks were still at an early stage and might not materialize. It also claimed that Adani was exploring similar partnerships with other Chinese renewable energy firms, including Beijing WeLion New Energy Technology, while keeping discussions open with European and South Korean battery manufacturers. However, Chinese players were reportedly offering the most attractive value-for-money proposition.
While denying these alleged collaborations, the group reiterated its commitment to India's energy transition through its ongoing clean energy initiatives. Adani Group has built a substantial clean energy portfolio across solar, wind, and green hydrogen verticals.
The group is currently expanding its solar module manufacturing capacity to 10 gigawatts (GW) per annum and plans to nearly double its wind turbine production capacity to 5 GW per annum. It is also actively pursuing the development of a facility for manufacturing electrolysers, a critical component used in green hydrogen production.
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