Chinese car, bus and battery maker BYD (OTCMKT:BYDDF) announced recently that it will expand its EV (electric vehicle) plant in Lancaster, California, 3X’ing the size of its facility, employment and production capability in next 3 years.
Stella Li, President of BYD America, said at a groundbreaking ceremony last week that the world’s largest manufacturer of EV’s will continue to invest in Lancaster and provide more development opportunities for local residents.
BYD, which stands for “Build Your Dreams”, is the world’s largest manufacturer of rechargeable lithium-ion batteries. Based on its fire-safe, fully recyclable and long cycle battery technology, the company has expanded into other businesses, including automobiles, buses, trucks, utility vehicles and energy storage facilities.
“We are proud to produce efficient, reliable electric trucks and buses in California that help boost the local economy with well-paid manufacturing and engineering jobs,” Ms. Li said, after recalling why the company had decided to set up the factory in the City of Lancaster in Y 2013, a Southern California community of more than 156,000 people.
Lancaster boasts more than 350 days of sunshine per year, making it the ideal place to pioneer new solar energy technologies.
Li also emphasized the support that local government and skillful American engineers had given the company.
The BYD’s coach and bus vehicle plant in Lancaster, which covers 8-K sqm and is able to deliver 300 Zero-emission vehicles every year, has already employed more than 300 people for production and customer service.
According to the new plan, the facility will expand to 37-K sqm, 3X’ing the number of its employees to 1,000 and its assembling capability to 1,000 vehiclesper year.
“Through our growing partnership with BYD, the local economy has already realized a significant boost,” said Lancaster Mayor Rex Parris, “in addition, reaching Zero Net Energy status is at the forefront of our city, and BYD is helping us achieve this vision faster.”
The Shenzhen-based company has more than 160,000 employees globally and a regional HQ in Los Angeles, California
The company’s electric bus, supported by its solar panels, LED lighting and energy-efficient technologies, is able to run over 248 kilometers after a single charge, which is among the longest in the world.
|HeffX-LTN Analysis for BYDDF:||Overall||Short||Intermediate||Long|
|Bullish (0.29)||Neutral (0.24)||Bullish (0.33)||Bullish (0.30)|
Latest posts by Paul Ebeling (see all)
- California, Its Quest to Legalize Recreational Marijuana - October 25, 2016
- Embraer (NYSE:ERJ) Negotiating $495-M Aircraft Sale to Surf Air - October 25, 2016
- Media Industry Consolidation Coming on Huge Changes in How People Watch TV - October 25, 2016