China Battery Maker Eve Denies Media Report on Tesla Supply Deal

Eve Energy Co., which makes lithium iron phosphate batteries, said a Reuters report that it’s in supply deal talks with Tesla Inc. is “unfounded.”

The company didn’t have any business communications with Tesla over the batteries, it said in a statement posted on Shenzhen Stock Exchange website on Sunday.

Eve Energy’s shares surged more than 9% on Friday, after Reuters reported that Tesla is in advanced talks to add the company as a supplier to its Shanghai factory.

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