Mixed outlook for EV makers in China and US
During the past few weeks, several China-based electric vehicle makers have been making headlines with announcements of new contracts in the US market just as several US electric vehicle makers based in California face new challenges.
Chinese automaker BYD Automotive Co, which boasts Warren Buffett as a major investor, recently signed a contract in the US with the city of Long Beach in California to build 10 electric buses at a former recreation vehicle facility in nearby Lancaster, CA.
This arrangement allows BYD to take advantage of buy-American subsidies for electric vehicles and public transportation. BYD has reportedly made 1,000 electric buses, most of them operating in China, and has completed a pilot program with rental company Hertz, according to the company.
