Mercedes-Benz will use batteries from BYD's battery arm FinDreams in a hybrid version of its GLC SUV, according to a regulatory filing.
BYD's batteries will be used in a new hybrid model from German luxury automaker Mercedes-Benz, signaling that its batteries are being used by more external customers.
China's Ministry of Industry and Information Technology (MIIT) released its latest catalog of models that will soon be allowed to be sold for public comment on May 11, and a hybrid variant of the Mercedes-Benz GLC SUV (sport utility vehicle) is included.
The public can submit their feedback between May 12 and May 17. Entry into the catalog is the last major regulatory process before a model can be allowed to be sold in China.
The model's manufacturer is Beijing Benz, a joint venture between Mercedes-Benz and BAIC Motor, with production taking place in the Beijing Economic-Technological Development Area.
It uses lithium iron phosphate (LFP) batteries, and the supplier of both the battery cell and the battery assembly is Qinghai FinDreams Battery Co Ltd.
Qinghai FinDreams is 100 percent owned by BYD's battery subsidiary FinDreams Battery, according to data provider Qichacha.
This is the first time we've seen that Mercedes-Benz will use BYD's batteries, though not in a battery electric vehicle (BEV) model.
In September 2023, Chinese media outlet CBEA cited an unspecified "media report" that said a production model of the Mercedes-Benz Concept CLA Class would be launched in 2024, and that it was expected to be powered by LFP batteries from BYD.
The CBEA report didn't mention which media outlet originally reported the story, and CnEVPost was unable to find any media reports in either Chinese or English that might have been the original source.
BYD had a partnership with Mercedes-Benz. In February 2011, BYD and Daimler set up Denza, a 50-50 joint venture, the first Chinese-foreign joint venture focused on new energy vehicles (NEVs).
In February 2022, the Daimler brand was rebranded as Mercedes-Benz. BYD increased its stake in Denza to 90 percent later in 2022.
BYD is China's second-largest power battery maker after CATL, but it supplies batteries mainly to its own NEV models, including plug-in hybrid electric vehicles (PHEVs) and BEVs.
On May 7, a Reuters report said Nio (NYSE: NIO) had struck a deal with BYD to source batteries for its lower-priced electric vehicle sub-brand Onvo (Ledao in China).
BYD will supply smaller battery packs for a version of Onvo's new EV, the Reuters report said, citing two people familiar with the matter.
BYD's power battery installations in China amounted to 9.95 GWh in April, placing it in second place with a 28.37 percent share behind CATL's 44.65 percent, according to the China Automotive Battery Innovation Alliance (CABIA).
Nio sub-brand Onvo to use BYD batteries, report says
