Tesla, Buffett-Backed China Company Near EV Battery Deal


Source: thestreet.com thestreet.com

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Tesla, ( TSLA ) - Get Tesla Inc. Report the Austin EV powerhouse, soon will have fresh supplies of batteries for its popular vehicle lines. BYD, ( BYDDY ) a China-based company that makes its own electric vehicles and is backed by billionaire investor Warren Buffett, said it shortly would be supplying Elon Musk's clean-energy carmaker with perhaps its most important component. "We are good friends with [Tesla Chief Executive] Elon Musk and we are preparing to supply batteries to Tesla," Bloomberg News quoted BYD's executive vice president, Lian Yu-bo, as saying in a video released by China state TV...