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 |  May 03 2010, 11:44 AM

byd

Chinese electric car maker BYD announced plans to establish a headquarters in Downtown Los Angeles, in a joint statement released with the Mayor of Los Angeles, and the Governor of California.

“By the end of next year, the plan is to offer several models,” BYD Senior Vice President Stella Li told reporters in Los Angeles. Li also announced that BYD was discussing plans with Penske Motor Group, a large dealer chain, to sell BYD cars in California.

BYD is hoping to capitalize on the growing demand for alternative-fuel vehicles, and a consumer desire to reduce greenhouse gas emissions. The new office as well as a battery and solar panel development center is expected to add 150 initial jobs as well as 1000 jobs in sales and product support.

[Source: Automotive News]