LOS ANGELES (AP) -- Gov. Arnold Schwarzenegger will join Los Angeles Mayor Antonio Villaraigosa on Friday to announce that Chinese electric car company BYD will locate its North American headquarters in downtown Los Angeles.
Officials of BYD Inc. based in Shenzhen, China also will attend the announcement outside City Hall.
The company says BYD will open in Los Angeles in late 2010 and plans to enter the U.S. electric car market about the same time, shipping its vehicles through the Port of Los Angeles.
Company officials say the headquarters eventually will have about 150 corporate employees, including managers, designers and engineers.
Chairman Wang Chuan-fu says the company also will pursue markets for solar panels and battery storage for renewable energy supplies.