Monday, November 7, 2011

China's green-car factory opened an office in LA

China's green-car

Vehicle manufacturer and environmentally friendly battery BYD China said Monday it has opened a new headquarters for North America here.

The new office BYD, backed by U.S. investment giant Warren Buffett, will carry up to 150 engineers and management to Los Angeles, and became the headquarters ofBYD dealership across the continent, AFP reported.

"The leadership of our city's environment and focus on developing environmentallyfriendly technology jobs continue to attract innovative companies like-BYD," said LAMayor Antonio Villaraigosa.

"BYD was thrilled to make this investment in Los Angeles, a city which seeks toglobal future of green, sustainable," added Chuanfu BYD Chairman Wang said in a statement.

China's auto sector ahead of the United States in 2009 to become the largest in the world and last year's sales increased more than 32 percent to a record 18.06 millionunits.

But the sector since it lost power after Beijing delete sales incentives such as tax reductions for small-engined vehicles, initially introduced to prevent the impact of the global financial crisis.

BYD, which makes cars and batteries, has focused on developing clean energy vehicles, but the widespread industry slowdown has hit her hard, analysts said.

Last month, BYD denies reports of mass layoffs but said the "reshuffling" is beingperformed on the sales team and management.

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