Adani Group Denies Link With China’s BYD, Beijing Welion New Energy, Calls Report 'Baseless, Inaccurate And..'

Hours after being linked with China's electric vehicle (EV) giants and battery manufacturer BYD, Beijing Welion New Energy Tech, for the EV battery production bid, Adani Group, on Monday, rejected the media claims. The Group called the media reports linking Adani with Chinese entities as 'baseless, inaccurate and misleading'.

Earlier on Monday, Bloomberg reported that Adani Group is in talks with Chinese EV makers like BYD and Beijing Welion New Energy to build its presence in the EV battery manufacturing business. The discussion for the deal was in a very initial stage and may not progress, reported Bloomberg citing sources.

Adani Rejects Media Reports On China Link

Later in the day, Adani Enterprises, released a BSE filing providing clarification on the media reports. The Adani Group subsidiary rejected the claim and called it baseless rumour. "We categorically deny Bloomberg's report on 4th 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," noted Adani Enterprises in its BSE filing.

The entity also clarified that it is not in contact with the two Chinese companies for any kind of deal or business agreement. "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," noted Adani Enterprises in its BSE filing.

Adani Enterprises shares degraded earlier during the Monday's intraday trade, but later ended 0.60% higher at Rs 2364.8 per share on BSE with a market capitalisation of Rs 2,72,940.66 crore. The stock had dipped to an intraday low mark of Rs 2339.45 per share on BSE today.

What Is the Adani, BYD and Beijing Welion New Energy Tech Turmoil

The alleged tie up between Adani and Chinese firms like BYD and Beijing Welion New Energy Tech would pave the way for the group's venture into EV battery manufacturing sector and clean energy segment, reported Bloomberg Citing sources on Monday.

The deal was personally overseen by billionaire Gautam Adani as he was in direct discussions with BYD Executives last week, according to Bloomberg report which has been refuted by the Adani Group.

The media report stirred controversy around Adani Group and its connection with Chinese entities. India and China have always been at crossroads because of their intense border tensions. Additionally, the two nations have also emerged as key rivals of each other as manufacturing destinations for multinational companies like Apple, etc.

Earlier, Adani Group garnered significant attention from the international media when a US-based short-seller, Hindenburg, alleged the conglomerate of stock manipulation and accounting fraud. Hindenburg report significantly impacted the Adani Group stocks valuation and also stirred political controversy in the country.