Musk, BYD Deny Report On Tesla Discontinuing Battery Supply Cooperation

Tesla Inc CEO Elon Musk and Chinese electric vehicle and battery maker BYD Co Ltd denied a media report on Tuesday (March 14) that the US company was terminating battery supply cooperation with BYD.

According to industry sources, Tesla did not request an additional supply of batteries for certain Tesla Model 3 vehicles after their supply deal expired earlier this year, according to the Korean Economic Daily on Sunday. "That media report is false. Relations between Tesla and BYD are positive," Musk said in a tweet on Tuesday.

BYD told Reuters that the report "is not in line with the actual situation."

BYD executive vice president Lian Yubo in June told Chinese state-owned broadcaster CGTN that BYD was preparing to supply Tesla with batteries "very soon". Since then, neither company has made any public announcements.