Adani Group denies Bloomberg report on BYD tie-up as ‘baseless and misleading’

Ahmedabad: The Adani Group on Monday vehemently denied a media report claiming the Group’s collaboration with Chinese companies BYD and Beijing Welion New Energy Technology.

In a statement, an Adani Group spokesperson said the Bloomberg report is “baseless” and “misleading”.

“We categorically deny Bloomberg’s report on 4 Aug 2025 suggesting a tie-up between the Adani Group and Chinese companies BYD and Beijing Welion New Energy Technology,” the spokesperson added.

The media report, citing sources, earlier claimed that the Adani Group is “exploring a tie-up with Chinese EV giant BYD Co” to manufacture batteries in India and extend its push into clean energy.

“This report is baseless, inaccurate and misleading. The Adani Group is not exploring any form of collaboration with BYD for battery manufacturing in India,” the Group spokesperson further stated.

The company said they are “not engaged in any discussions with Beijing Welion New Energy Technology for a partnership of any kind”.

Meanwhile, the Adani Group is preparing for a capital expenditure investment of nearly $100 billion over the next five years. The scale and pace of this commitment are unprecedented in India’s private sector history.

The Group runs the most highly integrated energy business encompassing thermal and renewable generation, transmission, distribution, LNG, LPG, CNG, PNG, battery storage, hydrogen trucks, EV charging stations, pumped hydro, and mining.

It is also India’s second-largest and most efficient cement manufacturer, as well as in aerospace and defence, data centres, and real estate.

IANS