Connect with us

Hi, what are you looking for?

Business

Buffett-backed BYD to open electric-truck plant in Canada

BYD, often described as China’s Tesla, anticipates a surge in electric trucks for municipalities and businesses. The company’s electric car division is primarily based in China, however, BYD has a strong presence in California.

BYD Canada spokesperson Ted Dowling said in a phone interview with Bloomberg that BYD is anticipating a surge in demand in Canada, and this is why they are investing in their own plant in Canada. He also added, “There is less of a barrier to entry when it comes to having Chinese products in Canada compared to the U.S.,”

“BYD is a global company, but we like to localize,” Dowling continued. “It doesn’t make sense to build everything in China and then ship it. It makes more sense to utilize the incentive programs and policy changes and create jobs in different markets.”

BYD’s move comes as countries shift to electric vehicles to combat climate change. The company will start its operations in Ontario by shipping technology and components from China to make short-range vehicles such as garbage and delivery trucks.

BYD US Headquarters in Los Angeles  Caligornia in 2015.

BYD US Headquarters in Los Angeles, Caligornia in 2015.
Linuxthink


Initially, about 40 employees will be hired. However, Dowling pointed out that with the California plant, 100 employees were first hired, and the plant now employs 700 people.
READ MORE: Loblaws to close 22 stores, will start home delivery
Citing Canada’s last truck manufacturing plant closing in 2011 due to losing automotive investments to the U.S. and Mexico, Dowling said, “If successful, BYD could be at the forefront of rebuilding a dormant truck-manufacturing industry, We’re bringing back an industry and we’re doing it through electrification,” Dowling stated. “It’s a totally different game.”

A spokesman for Ontario’s Ministry of Economic Development and Growth declined to comment on any investment from BYD.

BYD Co Ltd is a Chinese manufacturer of automobiles, buses, forklifts, rechargeable batteries, trucks, etc with its corporate headquarters in Shenzhen. It has two major subsidiaries, BYD Automobile and BYD Electronic.

Avatar photo
Written By

We are deeply saddened to announce the passing of our dear friend Karen Graham, who served as Editor-at-Large at Digital Journal. She was 78 years old. Karen's view of what is happening in our world was colored by her love of history and how the past influences events taking place today. Her belief in humankind's part in the care of the planet and our environment has led her to focus on the need for action in dealing with climate change. It was said by Geoffrey C. Ward, "Journalism is merely history's first draft." Everyone who writes about what is happening today is indeed, writing a small part of our history.

You may also like:

Business

You can call it good business or at least good personal finance arithmetic.

Social Media

As with every new technology, manufacturers want to jump on the Metaverse train as soon as possible and the rush to compete may result...

Tech & Science

The nano-bubble generation is called optoporation, a pinpoint zone of heat that temporarily vaporizes a tiny hole in the cell membrane.

Business

French hotel group Accor and LVMH said they had entered into a "strategic partnership" to develop the fabled Orient Express brand.