LOS ANGELES--(BUSINESS WIRE)--BYD, China’s premier global, high-tech green company focused on developing electric vehicle technologies and efficient alternative energy sources, launched its North American operations today with the opening of new headquarters in Los Angeles. Technology-based and innovation-oriented, BYD (which stands for “Build Your Dreams”) is a multi-national manufacturer of electric and hybrid or dual-mode vehicles, solar power systems, environmentally friendly rechargeable batteries and battery energy storage, and energy efficient LED lighting.
The company is 50 percent U.S.-owned and has the backing of investor Warren Buffett via his MidAmerican Energy Holdings Company, the utility division of Berkshire Hathaway. In 2010, BYD topped the Businessweek Technology 100 list and was ranked by the publication as the 8th most innovative company in the world. Based in Shenzhen, China, BYD employs more than 200,000 worldwide. BYD’s new North American headquarters, located along the Figueroa Corridor, will bring up to 150 green-collar engineering and management jobs focused on research and development to Los Angeles, as well as serving as the focal point for privately owned BYD dealerships across the continent.
This green technology investment will generate hundreds of additional jobs in the region. Dealerships will sell BYD’s landmark dual-mode electric and e6 pure electric vehicles to consumers and commercial fleets, all-electric long-range eBUS commercial buses, rapid charging stations, LED and solar street and parking light systems, residential solar systems, and replacement parts.
“Los Angeles is where the world creates and innovates,” said Los Angeles Mayor Antonio Villaraigosa. “By reaching out to the world and harnessing LA's unique resources, we have attracted China's leading green company to our city. BYD's new North American headquarters in downtown Los Angeles is the latest sign that we are a growing hub of clean-technology jobs. We see BYD's Los Angeles opening as a catalyst that will usher in good jobs, global investment, and a more sustainable future.”
“BYD is thrilled to be making this investment in Los Angeles, a global city working towards a green, sustainable future,” said BYD Chairman Chuanfu Wang. “We look forward to a long, productive relationship with the City, and thank Mayor Villaraigosa and his team for their hard work and dedication to recruiting green businesses to Los Angeles.”
To celebrate China’s investment in and partnership with Los Angeles, a delegation led by Mayor Xu Qin of Shenzhen Province where BYD is based, signed a series of agreements with Los Angeles area leaders to expand green technology education and research efforts. “Shenzhen Province is an economic powerhouse and green technology leader in China,” said Shenzhen Mayor Xu Qin. “Our partnerships with Los Angeles area leaders will greatly amplify each of our efforts towards a global green future.”
BYD also announced a partnership with Hertz Car Rental, providing the first long-range all-electric eBUS shuttle bus fleet at Los Angeles International Airport and the first all-electric vehicles for their Los Angeles rental fleet. The eBUS transported Mayor Xu Qin and his delegation to grand opening event today. “The BYD all electric bus not only knocks down emissions dramatically, but it also results in an estimated savings of up to $500,000 over the lifetime of each vehicle,” said Richard Broome, Senior Vice President, Corporate Affairs and Communications for the Hertz Corporation. “We are committed to sustainability, and this partnership with BYD creates very exciting opportunities for us in Los Angeles and throughout the nation.”
Joining BYD, the City of Los Angeles, and Shenzhen Province were Charlie Munger, vice chairman of Berkshire Hathaway, Qiu Shaofang, the Consul General of the People’s Republic of China to Los Angeles, and Bill Allen, president and CEO of the Los Angeles Economic Development Corporation (LAEDC). See more at www.facebook.com/bydcompany and www.byd.com.
About BYD
BYD is ranked #1 at the top of Bloomberg’s and BusinessWeek's 2009 Tech 100 List (http://www.businesswire.com/news/home/20100520006751/en/BYD-Tops-Bloomberg-Businessweek%E2%80%99s-12th-Annual-Tech) and is the leading manufacturer of advanced, environmentally-friendly battery technologies like the BYD’s Iron Phosphate battery used in BYD electric vehicles and electric busses. BYD’s solar panels and LED Lighting systems have CEC, TUV/CE and UL listings, and the company enjoys rapid growth in consumer electronics space and electrified transportation sector manufacturing under its BYD brand. BYD is the fastest-growing Chinese automotive and green energy technology enterprise. The Company trades on the Hong Kong Exchange (HKE) under the ticker numbers (HK.0285 – BYD Electronics) and (HK.1211 – BYD Company Ltd.), as well as on the Shenzhen Stock Exchange under the ticker number (002594 - BYD Company Ltd.). For more information, visit www.byd.com, www.facebook.com/bydcompany or email pr@byd.com.
About Hertz
Hertz is the largest worldwide airport general use car rental brand operating from more than 8,500 locations in 146 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and operates in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. The Company also has licensee locations in cities and airports in Africa and the Middle East. The Company also operates the Advantage car rental brand at 26 airports in the U.S. And, Hertz operates one of the world's largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of equipment for rent, including tools and supplies, and new and used equipment for sale, from approximately 325 branches in the United States, Canada, China, France, Spain, Italy and Saudi Arabia.