Chinese electric bus giant plans rapid growth in the US
BYD Auto Corporation, one of the world's largest manufacturers of electric buses and crossovers, announced that it plans to quadruple its production capacity in California.
The plant in Lancaster now occupies an area of 8,000 square meters. m and annually produces 300 pieces of equipment. Plans to increase the area to 37 thousand square meters. m, increasing the staff from 300 to 1000 people and the release of 1000 cars per year. “We are proud to produce low-cost and reliable electric crossovers and buses in California, stimulating the local economy with high-paying job offers for workers and engineers,” said Stella Li, president of BYD America (pictured), as reported by state news agency Xinhua.
BYD opened production line in Lancaster in 2013. Supported by Warren Buffett Berkshire Hathaway Inc.,owning 8.25% of the shares, BYD - which stands for “Build Your Dreams” (“Realize Your Dreams”) - has already amazed everyone with rapid growth in the past year, and in the first half of 2016 recorded an increase in profit of 384% compared with period, according to Reuters. The news about the expansion of the plant appeared just at the time when the Chinese electric vehicle industry was rocked by a scandal around fraud in obtaining state subsidies.
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The Chinese Ministry of Finance reported that five manufacturers were fined for receiving a total of $ 120 million in subsidies for the production of buses that they had never made, AP.BYD reported among the five exposed in fraud was not named, but according to AP, in the Chinese news It is mentioned that 20 companies may have problems. BYD is also actively expanding its operations in Europe, where it has already produced five double-decker buses electrically operated for London, and in June sold 16 electric cars mustache RATP Paris transport company as a test batch testing in this city.