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Updated June 8, 2022 7:33 am ET / Original June 8, 2022 5:53 am ET
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BYD shares rose on Wednesday after the Chinese electric vehicle maker said it was preparing to supply batteries to Tesla.
“We are good friends with Elon Musk and we are preparing to supply batteries to Tesla very soon,” BYD’s executive vice president Lian Yubo said in an interview with China’s state-owned broadcaster CGTN. Musk is CEO of Tesla (TSLA).