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 18,431.70 -40.47 -0.22%
Nasdaq 5,142.95 3.14 0.06%
S&P 500 2,165.65 -0.93 -0.04%
Treasuries 1.50 -0.01 -0.92%
Data as of 1:20pm ET
Company Price Change % Change
Ford Motor Co 12.50 -1.33 -9.65%
Facebook Inc 124.32 0.98 0.79%
Bank of America Corp... 14.58 -0.04 -0.31%
Apple Inc 103.64 0.69 0.68%
Chesapeake Energy Co... 5.18 -0.01 -0.19%
Data as of 1:05pm ET
Sponsors

Sections

HSBC banker arrested at JFK airport as he prepared to leave the country. He and former trader face federal charges they manipulated currency trades. More

Americans are vastly better off than they were 8 years ago. But most are worried. Clinton has to walk that line of celebrating the turnaround, but also laying out a vision for how America reaches its full potential, especially on growth and worker pay. More

It's about to get harder for some luxury all-cash home buyers to hide their identity from the U.S. government. More