Adani Group Denies Battery Partnership Plans With BYD, Beijing Welion

The Adani Group has firmly denied reports of a collaboration with Chinese companies BYD and Beijing Welion New Energy Technology for battery manufacturing and clean energy technology in India, labeling such claims as inaccurate and misleading. While Bloomberg and other sources reported that Adani was personally leading discussions with BYD to establish gigafactories and leverage advanced battery technologies to boost India's renewable energy and electric mobility sectors, the group clarified that no such talks or partnerships are underway. This comes amid India's strategic push to expand its domestic renewable energy manufacturing, including solar modules, wind turbines, and green hydrogen electrolysers, while navigating complex geopolitical tensions and supply chain vulnerabilities, particularly concerning critical minerals controlled by China. The potential partnership with BYD had sparked debate on the risks of increasing reliance on Chinese technology versus the benefits of accessing cutting-edge battery solutions, especially given India's dependency on imports for key battery materials. However, Adani's official position rejects any current collaboration, underscoring its commitment to pursuing independent growth in clean energy manufacturing. These developments highlight the intricate balance India faces between fostering foreign investment and safeguarding national interests in its green energy transition.