“BYD Co. Ltd., the Chinese battery and electric vehicle producer with U.S. headquarters in downtown

by Stephen Frank on 12/17/2012 55284 2 comments http%3A%2F%2Fcapoliticalnews.com%2F2012%2F12%2F17%2Flos-angeles-airport-and-state-of-ca-to-buy-chinese-buses-made-in-california-company-financed-by-warren-buffett%2F Los+Angeles+Airport+and+State+of+CA+to+buy+CHINESE+Buses%E2%80%94made+in+California%E2%80%94company+financed+by+Warren+Buffett 2012-12-18+04%3A32%3A35 Stephen+Frank http%3A%2F%2Fcapoliticalnews.com%2F%3Fp%3D55284 Print This Post
Great news for Warren Buffett and the Chinese.  They will produce buses—to be sold to American companies.  Buffett gets to keep his profits in China—avoiding U.S. taxes and the Chinese get to put American firms out of business.  Wonder if Buffett will complain about the Prop. 13 property taxes his Chinese firm will pay?
"BYD Co. Ltd., the Chinese battery and electric vehicle producer with U.S. headquarters in downtown around the world airline tickets Los Angeles, plans to open its first wholly owned assembly plant overseas around the world airline tickets next year somewhere in California, according to a Monday news report."
BYD Co. Ltd., the Chinese battery and electric vehicle producer with U.S. headquarters in downtown Los Angeles, plans to open its first wholly owned assembly plant overseas next year somewhere in California, according to a Monday news report.
Li Ke, senior vice-president of the Shenzhen-based company, said the factory will produce electric buses. The exact location around the world airline tickets is expected to be announced in March or April, according to reports from Xinhua News Agency and China Daily USA's website. BYD plans to open the plant next year with capacity to produce 50 to 100 buses a year by 2014.
The Warren Buffett-backed company's Chinese-made K9 electric buses cost $550,000 to $600,000 each and are expected to hit the U.S. market in March. The first customers will be Los Angeles International Airport, Apple Inc. and Stanford University, and California is expected to be significant component of the company's customer base
BYD's strategy is to expand its manufacturing closer to its customers, in part to control costs. Last week it signed a joint venture agreement with a Bulgarian company to open its first factory for the European market.