Chinese automaker to open headquarters in L.A.

By Blake Ellis, staff reporter


NEW YORK (CNNMoney.com) -- Chinese automaker BYD said Friday it has chosen sunny Los Angeles as the site of its North American headquarters.

BYD, a manufacturer of electric and hybrid vehicles backed by investor Warren Buffett, said it was lured by L.A.'s green energy policies, such as incentives for zero emission vehicles and solar roofs.

"California's market-friendly energy and environmental policies are playing a vital role not only in making California more energy secure but also in bringing companies like BYD to our state," said Governor Arnold Schwarzenegger on Friday during an announcement at L.A.'s City Hall.

BYD said it plans to open its offices in the fourth quarter of 2010 and that the launch is expected to generate 150 jobs.

The headquarters will be the home base for the company's marketing, sales and research and development operations. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Find Your Next Car
Index Last Change % Change
Dow 17,390.52 195.10 1.13%
Nasdaq 4,630.74 64.60 1.41%
S&P 500 2,018.05 23.40 1.17%
Treasuries 2.34 0.03 1.30%
Data as of 2:59am ET
Company Price Change % Change
Bank of America Corp... 17.16 0.13 0.76%
Intel Corp 34.01 1.43 4.39%
Apple Inc 108.00 1.02 0.95%
Facebook Inc 74.99 0.88 1.19%
General Electric Co 25.81 0.14 0.55%
Data as of Oct 31

Sections

AT&T adds two new 'value plans' with more data in response to similar deals from rival carriers. More

When it comes to Internet speeds, the U.S. lags behind much of the developed world. More

Instead of flocking to sunny beach havens or downsizing to a condo in the city during their retirement years, a majority of Baby Boomers say they're just going to stay put in their current home. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.