Overview

• Adani Group issued a filing stating it is not exploring any collaboration with BYD or Beijing Welion for battery manufacturing in India and called Bloomberg’s report baseless, inaccurate and misleading.
• The Bloomberg story claimed Gautam Adani personally led preliminary discussions with BYD executives through regional subsidiaries instead of its Shenzhen headquarters due to diplomatic sensitivities.
• The proposed tie-up was said to target large-scale lithium-ion cell production for electric vehicles and stationary energy storage as part of the group’s clean energy expansion.
• Bloomberg sources noted that India–China border tensions and China’s technology-export restrictions would have shaped any partnership structure.
• Despite the denial, Adani Enterprises shares held gains and the group remains committed to nearly $100 billion in capital expenditure over the next five years to boost its renewable and infrastructure assets.