The executive vice president of the Chinese automobile company BYD, Lian Yubo, assured in an interview with Chinese state television broadcast today that the firm will supply “very soon” lithium-ferrophosphate (LFP) batteries to Tesla (NASDAQ: TSLA ).
BYD, which produces batteries for its own electric and hybrid vehicles and is present in more than 200 countries, launched its Blade battery based on LFP technology in 2020, assuring that it was safer than other alternatives on the market because it had a lower tendency to overheat.
To date, the Chinese giant CATL is the only company that supplies LFP batteries to Tesla, which has been using them since 2020 for the cars it manufactures at its mega-plant in the eastern city of Shanghai.
According to Tesla, about half of the vehicles it produced in the first quarter were equipped with LFP batteries, cheaper than the nickel -cobalt batteries typically used in the West.
Tesla has automobile and battery production plants in the United States, China and Germany. Last year Tesla had its best year with the production of 930,422 vehicles and the delivery of 936,172.China’s BYD says it will supply batteries to Tesla “very soon”