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BYD to offer financial leasing for electric buses in U.S.
Automotive News China | 2018/7/17

Chinese electrified vehicle maker BYD Co. formed a joint venture with San Francisco investment company Generate Capital to launch a $200 million leasing program for electric buses in North America. 

The program will help local private operators and smaller municipalities speed up the adoption of electric buses by lowering upfront procurement costs, BYD said.

BYD has secured several clients including universities, major companies and smaller municipalities in the United States under the program, the Chinese company noted. 

BYD currently assembles electric buses in Lancaster, Calif.  The U.S. market has about 300 electric buses in operation, of which two-thirds were built by BYD, the company said. 

The Chinese company also assembles electric buses and other EVs in China, Scotland and Brazil, and is building plants in Hungary, France and Ecuador. 

It is the worlds largest electrified vehicle maker. In the first six months of this year, the company sold 74,884 electrified vehicles, which includes 3,614 electric buses. 

It also delivered 149,613 gasoline passenger vehicles in the period, according to BYD.

BYD, based in the south China city of Shenzhen, is listed in Hong Kong and Shanghai. It is partly owned by U.S. billionaire Warren Buffett.


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