Adani Enterprises: BYD tie up for battery? Adani group shares clarification 

Shares of Adani Enterprises Ltd were holding up morning gains, even as the flagship Adani group firm denied a Bloomberg report suggesting a collaboration with Chinese companies BYD and Beijing Welion New Energy Technology. The report is baseless, inaccurate and misleading, Adani Enterprises said in a BSE filing. Despite this, the stock was trading 0.61 per cent higher at Rs 2,365 on BSE. 

"The Adani Group is not exploring any form of collaboration with BYD for battery manufacturing in India. Similarly, we are not engaged in any discussions with Beijing Welion New Energy Technology for a partnership of any kind," Adani Enterprises said. 
 
The Bloomberg report had earlier suggested that the Adani group was exploring a tie-up with Chinese EV giant BYD for manufacturing of batteries in India. As per the report, Gautam Adani was personally heading discussions with BYD executives, which took place, as recently as last week. 

Wary of diplomatic tensions between Beijing and New Delhi, any tieup will be signed with BYD’s subsidiaries in countries in the region, and not with its headquarters in Shenzhen, Bloomberg had quoted sources as saying. 

Adani Enterprises would be operationalising large infra assets during the ongoing fiscal year, which should results in Ebitda unlock and long-term value creation, the Adani group flagship said on July 31. 

Adani Enterprises has established itself as one of the world’s most successful infrastructure incubators, Gautam Adani, Chairman of the Adani Group said last week following the company's June quarter results. 

"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 per cent year-on-year growth in EBITDA. With landmark assets like the Navi Mumbai International Airport, the Copper Plant and the Ganga Expressway set to become operational, we are accelerating our mission to build next-generation infrastructure platforms that are globally benchmarked, technologically advanced and strategically vital to India’s growth story."