A rapidly expanding manufacturer of all-electric cars, solar panels and other “green energy” products from China announced on Friday that it would open a North American headquarters in Los Angeles, with plans to begin selling it all-electric autos in the US by the end of this year.
City officials said the arrival of BYD Inc (比亞迪) of Shenzhen, China, would initially create about 150 high-paying jobs as the company hires managers, designers and engineers to staff its new downtown headquarters.
As it begins to market cars in the US, officials expect several hundred more jobs to be created in related industries involving service and sales.
‘A COUP’
California Governor Arnold Schwarzenegger hailed the move as a coup for California and proof that the state’s promotion of “green energy” programs was paying off by attracting high-tech, clean-energy companies that would help consumers reduce both pollution and their reliance on overseas oil.
“As I’ve always said, what is good for the environment is also good for the economy,” Schwarzenegger said at a press conference at Los Angeles City Hall in which he and Los Angeles Mayor Antonio Villaraigosa welcomed BYD officials, including the company’s chairman and founder, Wang Chuanfu (王傳福).
Since starting BYD in 1995, Wang has built it into the world’s largest producer of rechargeable batteries for mobile phones and laptop computers.
The company, which employs 150,000 people, also produces solar panels and lighting systems. It is also working to develop a technology to store solar energy.
According to BYD’s Web site, US billionaire Warren Buffett bought a 10 percent stake in the company in 2008.
GREEN DREAM
Wang said BYD stands for “Build Your Dream.”
“Our dream is a ‘green’ dream,” he told the press conference.
The company moved into the auto business in 2003 and began selling the world’s first mass-produced plug-in hybrid, the F3DM, in 2008.
It introduced a US audience to its latest model, the all-electric e6 at Detroit’s annual auto show earlier this year.
The crossover sedan-wagon model is what BYD plans to begin selling in the US by year’s end.
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