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    1. Bus

    BYD Receives Inaugural Select LA Foreign Direct Investment Award

    June 4, 2018
    BYD was named the recipient of the inaugural Select LA Foreign Direct Investment Award. The award was presented on May 24th by World Trade Center Los Angeles during their annual Select LA Investment Summit.
    Related To: RIDE Mobility

    BYD was named the recipient of the inaugural Select LA Foreign Direct Investment Award. The award was presented on May 24th by World Trade Center Los Angeles during their annual Select LA Investment Summit.

    Stella Li, president of BYD Motors, accepted the award on behalf of the company. BYD was chosen for making significant contributions to the local economy, attracting new investment to the region, creating well-paying, permanent jobs and improving the environment.

    “We are proud that WTCLA recognized BYD’s positive impacts on the LA economy, especially our ability to improve the workforce through higher wages and job growth,” said Stella Li.

    Started in 2015 in collaboration with the Los Angeles County Economic Development Corporation (LAEDC), the Select LA Investment Summit is the first of its kind to focus solely on promoting foreign direct investment in Southern California.

    “Through environmentally sustainable innovation, BYD is increasing the flow of foreign capital to our local economy. Their contracts around the nation will help create more jobs here in Los Angeles,” WTCLA President Stephen Cheung said.

    Bringing approximately $300M in regional investment, BYD has created over 800 permanent local jobs and sold 722 buses.  Among BYD customers is the Los Angeles International Airport, which announced its purchase of 20 electric busses in April.  

    BYD is proud to be the first electric bus manufacturer to sign a contract with the Sheet Metal, Air, Rail and Transportation Workers Union (SMART). The agreement includes competitive wage increases, good benefits, expanded training opportunities and stronger worker protections.

    Eric Garcetti, mayor of Los Angeles, delivered the Summit’s keynote speech. Special presentations on the future of L.A. investments were given by Dr. Patrick Soon-Shiong, chairman and CEO of Nantworks; Suzanne Boda, senior vice president of American Airlines and Spencer Levy, CBRE’s head of research in America.