subject: Byd Completed The Headquarters In North America [print this page] It is reported that BYD Company Limited announced that its North American headquarters in Los Angeles, USA was completed. It became the first Chinese auto company that established a branch in North America. However, It said that as the public facilities of vehicle charging have not kept pace, the company's retail program of electric vehicles in the North American will be delayed.
BYD's North American headquarters is located in Nanfeijialuo Street of the downtown Los Angeles, California with a total area of 3100 square meters. A few hundred meters away from the building of BYD, the sales centers of Porsche, Audi, Mercedes, Nissan and other world-renowned automobile brands are standing shoulder to shoulder.
The President Wang said the same day, in the next two years it will make the electrification of public transport, ie electric buses and electric taxis as their primary task. BYD's North American headquarters will be the sales center of the electric buses and electric taxi business.
Wang said the lack of charging facilities will hinder the electric car market, but this business model of fleet services can overcome this problem. In the next 18 months, BYD will focus on the development of the car team business, primarily for public buses, government and commercial fleet, car sharing and car rental business.
At that day, BYD signed a contract with the U.S. car rental company Hertz to jointly introduce a pure electric car rental business. Wang said BYD's establishment of the North American headquarters is expected to provide hundreds of local jobs and the initial number of jobs created is 30.
Previously, BYD said it would in set up an office in Los Angeles in the end of 2010 and by the end of 2011 it will have 150 employees. Although the North American headquarters is late, BYD's retail plan of electric cars in China is scheduled to open today. BYD will launch electric car E6 Pioneer for individual consumers.
BYD is famous in the world because of Buffett's stake. However, this year as the sales failed to meet expectations, it made a major adjustment to the sales staff and the stock price dramatically declined. At present, due to the long-term fixed investment can not be realized and the profitability is inadequate, it is accused of facing cash flow difficulties. Its second-quarter revenues fell 8% and the net profit sharply fell 58%. But the company until the third quarter of the year was alert to the seriousness of the problem of cash flow.
