[update] the source said Tesla asked to stop working with BYD, which responded that "false information is not in line with the actual situation."

[update] BYD said on March 14 that this was "false information and not in line with the actual situation," according to the Financial Associated Press. "

CTOnews.com March 13 news, today's Korea Economic Daily reported that Tesla stopped the cooperation with BYD on the battery.

According to CTOnews.com, Tesla used BYD 10GWh batteries in low-cost models in Europe last year, according to CTOnews.com. Tesla's battery supply contract with BYD for low-cost models such as the standard version of Model 3 expired at the beginning of this year, the Korea Economic Daily reported. There are three possible reasons for the cessation of cooperation:

1. The problem of continuous BYD blade battery.

2. Considering the subsidy policy related to electric vehicles in the United States.

3. BYD directly competes with Tesla in manufacturing and exporting electric cars in Europe, India, Southeast Asia and other places, which is also the reason for the termination of the contract.

LG Energy Solutions is speeding up the development of lithium iron phosphate batteries for electric vehicles at the request of Tesla, because Tesla's upcoming cheaper model will have a greater demand for lithium iron phosphate batteries, the article said.