BYD Chooses LA as its US Headquarters

30 April, 2010 07:20:00

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Chinese car manufacturer BYD Auto, partly owned by billionaire Warren Buffett, has selected Los Angeles to be its U.S. base after reviewing offers in other California cities.

BYD expects to hire 150 jobs throughout 2010 and 2011 as it rolls out its fleet of vehicles to California markets first before expanding throughout the country.

The headquarters for BYD will be located at 1800 South Figueroa. The office building lies within the Downtown Business District. BYD has signed a long-term lease agreement and expects to take occupancy in the fourth quarter.

BYD’s green energy technologies will be on display at its new headquarters and will feature its vehicles, solar panels, energy storage systems and advanced LED lighting products.

The building will also house BYD’s Research & Development arm that will develop current versions of their popular vehicles selling in China for the U.S. consumer market.

BYD, 10% backed by U.S. billionaire Warren Buffett, displayed its e6 electric crossover at the 2010 Detroit Auto Show in January, and said it planned to start selling the car in the U.S. later this year and in Europe next year.

It also used the Geneva Show to announce plans to work with Daimler on a new electric model.

BYD sold nearly 450,000 vehicles in 2009, up 170 percent from a year earlier. This year, the company expects to reach 700,000 in vehicle sales. BYD employs 130,000 worldwide in offices including the Netherlands, Denmark, Hungary, Romania, Japan, South Korea, India, Taiwan and Hong Kong. “Installing a U.S. headquarters in Los Angeles well prepares us for distribution of our product throughout the United States and sets the stage for release of our all-electric crossover vehicle, the e6,” said Chairman Wang.

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