Warren Buffett-backed BYD to supply EV batteries to Ford

The Chinese vehicle and rechargeable battery producer BYD is backed by US investor Warren Buffett.
The Chinese vehicle and rechargeable battery producer BYD is backed by US investor Warren Buffett.
Image: LIGHTROCKET VIA GETTY IMAGES/ SOPA IMAGES/ ALEX TAI

The Chinese electric vehicle (EV) maker BYD Co Ltd will supply EV batteries to US car maker Ford Motor Co, a document on the website of the ministry of industry and information technology showed on Monday.

Ford's China venture with Changan Automobile is seeking government approval to build a plug-in hybrid model equipped with BYD's batteries, according to the document.

This marks BYD's first-known battery supply deal with a major global car maker.

Shenzhen-based BYD, which is backed by US investor Warren Buffett, said it would supply EV components including batteries and power management devices.

The Dearborn, Michigan-based car maker said last year it planned to launch more than 30 new or significantly redesigned models in China by the end of 2021, of which more than a third will be electric vehicles.

Ford and BYD did not immediately respond to requests for comment.


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