Companies
BYD penetrates market for electric buses in US
BYD – literally meaning “Build Your Dreams” – centers its US business on the rapidly growing demand for electric buses, solar and wind power and other clean and renewable energy.
BYD Auto (US) continues to penetrate the rechargeable bus business among environmentally minded public transit agencies in California, and launched test fleets of 20 e6 plug-in electric hatchbacks used by taxi companies in Chicago and 50 in New York City, said Michael Austin, vice-president for BYD Auto (US), adding that the company has received orders from customers across the nation.
BYD’s US factory, which opened in 2013 in Lancaster, north of Los Angeles, is on track to deliver 300 this year. The first two BYD buses produced several years ago went to the nearby Antelope Valley Transit Authority (AVTA), which serves more than 450,000 residents in the cities of Palmdale and Lancaster and northern LA County.
In February, the AVTA board of directors approved a contract with BYD for up to 85 electric buses by 2018. All 85 buses will have a range of more than 160 miles on a single battery charge. AVTA is also installing a wireless charging system to extend the fleet’s range to ensure the electric buses will be able to serve the agency’s longest rural routes.
Los Angeles-based BYD Motors will build and deliver a variety of all-electric bus models, including 14 60-foot-long articulated buses that can carry 120 people with a range of up to 200 miles on one charge, 30 commuter coaches and 41 40-foot standard buses.
The 40-foot buses cost $660,000, compared with $500,000 for a diesel hybrid, according to the agency’s executive director, Len Engel. But maintenance is cheaper: Most buses need new tires after as little as 20,000 miles but the BYD vehicles are still on their first set after 50,000 miles.
Many jobs are expected to be created at BYD as a result of AVTA’s order. There are more than 300 jobs in the city of Lancaster now. By the end of the year, it…
China
Government subsidies don’t boost Chinese firms’ productivity
China’s industrial subsidies have caused considerable controversy both internationally and domestically. Trading partners have accused China of unfairly favouring its indigenous firms with subsidies, leaving foreign companies at a disadvantage in the race to lead the technologies of the future.
Governments around the world regularly spend an enormous amount of money subsidising businesses. But few spend like China. A 2022 report suggests that China spends 1.7–5 per cent of its GDP on industrial policies, more than most countries.
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Chinese Smartphone Manufacturer Lays Off 3,000 Employees Following Closure of Chip Design Division
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
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Company Owned by Chinese Billionaire Guilty of Paying $1 Million in Bribes to LA Councilman
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
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