Warren Buffett-backed BYD to supply EV batteries to Ford

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 a document.
By : Reuters
| Updated on: 01 Jun 2020, 03:16 PM
This marks BYD's first-known battery supply deal with a major global automaker.(File photo used for representational purpose only). (Bloomberg)
This marks BYD's first-known battery supply deal with a major global automaker.(File photo used for representational purpose only). (Bloomberg)
This marks BYD's first-known battery supply deal with a major global automaker.(File photo used for representational purpose only). (Bloomberg)
This marks BYD's first-known battery supply deal with a major global automaker.(File photo used for representational purpose only).

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.

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(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.

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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.

First Published Date: 01 Jun 2020, 03:16 PM IST
TAGS: BYD Buffet Ford EV
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