Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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

Find Your Next Car
Index Last Change % Change
Dow 20,624.05 4.28 0.02%
Nasdaq 5,838.58 23.68 0.41%
S&P 500 2,351.16 0.00 0.00%
Treasuries 2.42 -0.02 -1.02%
Data as of 3:18pm ET
Company Price Change % Change
Bank of America Corp... 24.52 -0.06 -0.24%
Pfizer Inc 33.62 0.00 0.00%
Cisco Systems Inc 33.74 0.14 0.42%
Kraft Heinz Co 96.65 9.37 10.74%
Mondelez Internation... 42.50 -0.70 -1.62%
Data as of Feb 17
Sponsors

Sections

Kraft Heinz has abandoned its more than $140 billion bid for food and personal care products giant Unilever. But the company, which has Buffett as its largest investor, could still be interested in buying another big supermarket staple. More

It's still not clear whether millions of European Union migrants living in the U.K. will be permitted to stay in the country. More

Some Silicon Valley workers are going public with how their lives are changing under the new President as part of a new project from photographer and oral historian Helena Price called "Banned." More

Pay yourself first; donate stuff you don't need to charity and remember to claim deductions; finally, cut your recurring expenses. More