Warren Buffett-backed BYD to supply EV batteries to Ford
1 min read . Updated: 01 Jun 2020, 03:16 PM ISTFord's China venture with Changan Automobile is seeking government approval to build a plug-in hybrid model equipped with BYD's batteries, according to a document.
Chinese electric vehicle (EV) maker BYD Co Ltd will supply EV batteries to US automaker Ford Motor Co , a document on the website of the Ministry of Industry and Information Technology showed on Monday.
Ford's China venture with Changan Automobile is seeking government approval to build a plug-in hybrid model equipped with BYD's batteries, according to the document.
This marks BYD's first-known battery supply deal with a major global automaker.
(Also read: Buffett-backed BYD to supply electric car parts to rivals)
Shenzhen-based BYD, which is backed by U.S. investor Warren Buffett, said it would supply EV components including batteries and power management devices.
The Dearborn, Michigan-based automaker said last year it planned to launch more than 30 new or significantly redesigned models in China by the end of 2021, of which over a third will be electric vehicles.
(Also read: Toyota, China's BYD announce electric car venture)
Ford and BYD did not immediately respond to requests for comment.
This story has been published from a wire agency feed without modifications to the text.