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 the document
BEIJING: Chinese electric vehicle (EV) maker BYD Co Ltd , will supply EV batteries to U.S. 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.
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.
Ford and BYD did not immediately respond to requests for comment.
Source: reuters
