China's BYD Opens US Headquarters
Chinese electric carmaker BYD Co. opened its North American headquarters in Los Angeles Monday, a move officials said could bring hundreds of jobs and provide a U.S. hub for sales and research.
As part of the opening celebration at its offices on Figueroa Street in downtown L.A., BYD displayed one of the electric shuttle buses to be used by hertz to transport rental car customers at Los Angeles International Airport.
The opening will be a “catalyst that ushers in good jobs, global investment and a more sustainable future,” Mayor Antonio Villaraigosa said.
BYD, which is backed by billionaire Warren Buffet, makes electric and hybrid cars, charging systems, solar panels and LED lighting. BYD will import its electric cars and buses from overseas, concentrating on fleet sales next year.
The headquarters could provide up to 150 engineering and management jobs, officials said. It also could generate hundreds of other jobs in related industries, such as car repair and solar panel installation, Villaraigosa said.
The Los Angeles headquarters will benefit from being close to the Los Angeles and Long Beach ports, which together comprise the nation’s largest port complex. In addition, under Los Angeles anti-smog incentives, there will be a tariff reduction on the imported electric cars.