BYD opens North American HQ in LA, electric bus headed for LAX

China's BYD Motors has been edging its way into the North American auto market for some time, but it's now firmly planted itself here by opening its new headquarters in Los Angeles. That bit of news also just so happens to coincide with the announcement of a new partnership with Hertz Car Rental, who will be using BYD's all-electric, long-range eBUS to shuttle passengers at Los Angeles International Airport -- BYD's cars will also eventually find their way into Hertz's LA rental fleet. The press release is after the break.

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BYD Opens North American Headquarters in City of Los Angeles

BYD aims to grow Electric Bus, e6 electric cross‐over and solar panel businesses from Los Angeles; Company unveils electric bus created in partnership with Hertz for use at LA International Airport

LOS ANGELES, CA – October 24th, 2011: 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.
BYD Chairman Wang, Councilwoman Perry, LA Mayor Villaraigosa, Shenzhen Mayor Xu, Consul General Qiu and Austin Beutner 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. "Our city's environmental leadership and focus on the development of green tech jobs continues to attract innovative companies such as BYD," said Los Angeles Mayor Antonio Villaraigosa. "Los Angeles welcomes BYD and the region's partnerships with the Shenzhen Province as they invest in our vision of 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-Te ch ) 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 .