All-electric vehicle manufacturer, Build Your Dreams (BYD), is yet again exceeding expectations. BYD, the world’s largest rechargeable battery manufacturer, has sold more all electric vehicles than Tesla, Nissan, and GM combined. Ranked in the top 10 technology companies behind Apple and Google, if you haven’t heard of them, BYD is the biggest company you’ve never heard of. Warren Buffett owns 10% of BYD, the most he was allowed to buy.
BYD first entered the U.S. market in 2011 with 10 employees and opened their U.S. manufacturing plant in 2013 in Lancaster, CA. In 2013, the City of Lancaster gave BYD an incentive to grow their operation to 250 workers within 3 years, the incentive was to gift BYD the adjacent 12.5 acre parcel of land.
In 2014, with about 60 workers, BYD delivered their first two California-made all-electric buses.
In 2015, BYD was awarded $3 million under the California Competes program, a tax credit incentive which seeks to encourage companies to expand and add jobs in California. In order to receive the $3 million award, BYD had to meet certain milestones such investing $51 million in their California businesses and hire 243 by 2016 escalating to 625 workers by 2018 (at the time of this article BYD had an employee base of 700).
In 2014, with about 60 workers, BYD delivered their first two California-made all-electric buses.
In 2015, BYD was awarded $3 million under the California Competes program, a tax credit incentive which seeks to encourage companies to expand and add jobs in California. In order to receive the $3 million award, BYD had to meet certain milestones such investing $51 million in their California businesses and hire 243 by 2016 escalating to 625 workers by 2018 (at the time of this article BYD had an employee base of 700).
In 2016, BYD entered into a contract with Antelope Valley Transit Authority’s (AVTA) to replace their fleet with all-electric buses. AVTA is on track to becoming the nation’s first all-electric transportation agency by 2018. Additionally, BYD met Lancaster’s milestones and was awarded the 12.5 acre incentive and began construction on expanding their facility.
Last week, Stella Li, President of BYD Motors, was featured in an exclusive live interview with CNBC (see above video) regarding BYD’s extraordinary rapid growth. BYD’s expansion of their current facility to more than triple their existing space will result in the largest single building in Lancaster, and is expected to be completed next month. With this new building, BYD will be able to:
- Increase their U.S. Production from 350 to 1,500 buses per year
- Increase from 700 to 1,400 workers
- Expand their US business into all-electric commercial trucks, forklifts, and passenger cars
- Introduce new types of all-electric technologies to the US such as solar energy battery storage
BYD’s current customer base is nationwide, servicing big transportation authorities like AVTA, LA County Metro, Washington D.C. Department of Transporation, to smaller transportation operators like UC Irvine, UCLA, UC San Francisco. BYD plans to start selling passenger cars to American drivers in two to three years.
The point is to understand that BYD is one of the largest companies in the world and has continuously exceeded all expectations. When I discovered just how large their company really was and how big of an impact they’ve made to every city and country they’ve done business in, I had to learn for myself more about them. I visited their corporate headquarters in Shenzhen China in 2013 and for lack of better wording, was blown away.
It’s common sense, as BYD expands, the city will make more money. The state will too. Last but most importantly RTA educated investors that got there first stand to make a fortune!
We have not just been following BYD, we have been ahead of their forecasts. We can show you how we’ve already profited and how we plan to continue to do so. You can profit too. Give us a call at 844-782-5263 or visit our next live event.
It’s common sense, as BYD expands, the city will make more money. The state will too. Last but most importantly RTA educated investors that got there first stand to make a fortune!
We have not just been following BYD, we have been ahead of their forecasts. We can show you how we’ve already profited and how we plan to continue to do so. You can profit too. Give us a call at 844-782-5263 or visit our next live event.
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