BYD Co Ltd , a Chinese carmaker backed by U.S. billionaire Warren Buffett will hold the launch of its North American operations on Oct 24 in Los Angeles.
The Chinese automaker said the facility will bring an estimated 150 green-collar engineering and management jobs to the city. The headquarters will be the home base for the company’s marketing, sales and research and development operations.
Los Angeles put together a package of incentives that included $2-million in federal grants for blighted areas.
The money was used to help renovate BYD’s offices in a building dating from 1918 south of the city’s center and the surrounding area, said Ben Stapleton, the Jones Lang LaSalle Inc. broker who helped negotiate the deal.
The automaker will begin selling its e6 electric exclusively in California at first, eventually expanding to more states, and plans to deliver the car to fleet operators as early as next year.
Currently in Shenzhen, 350 E6s and 250 K9s are being used for public transit. Meanwhile, the consumer version of the E6 will soon be unveiled to the market.
In order to help the manufacturer fulfill its goals, BYD has partnerships with several parts suppliers from both in and out of China, including German auto parts giant Bosch.
“We already have a through R&D and accessories system, [as well] as possess requirements for large-scale production,” Mr. Lian stated. “Electric vehicles are without a doubt our direction of development.”