NEW DELHi: The Adani Group has denied media speculation about a potential partnership with Chinese electric vehicle (EV) and battery manufacturing firms BYD and Beijing Welion New Energy Technology.
The denial comes after Bloomberg reported that the port-to-power conglomerate was in talks with the two Chinese firms to collaborate on battery production initiatives in India. “We categorically deny Bloomberg's report on 4 August 2025 suggesting a tie-up between the Adani Group and Chinese companies BYD and Beijing Welion New Energy Technology. This report is baseless, inaccurate and misleading,” said an Adani Group spokesperson on Monday.
The spokesperson added that the Group is “not exploring any form of collaboration with BYD for battery manufacturing in India.” On Beijing Welion, Adani said, “We are not engaged in any discussions with Beijing Welion New Energy Technology for a partnership of any kind.”
Gautam Adani, chairman of the Adani Group, was said to be personally steering the negotiations with BYD, with meetings reportedly taking place as recently as last week.
The Group has interest in businesses spanning from thermal energy, infrastructure, ports and cement. It is also actively ramping up its presence in the cleaning energy space.
Last week Adani Enterprises said it will witness operationalisation of the large infra assets during this fiscal year reflecting its project execution capabilities, which should results in EBITDA unlock and long-term value creation.
"The substantial rise in EBITDA contribution from our incubating businesses reflects strength and scalability of our operating model. This performance has been led by our Airports business, which delivered an exceptional 61% year-on-year growth in EBITDA,” said Gautam Adani, chairman of the Adani Group.