Domestic automobile and battery manufacturer BYD Co recently signed an agreement with Tianjin Public Transportation Group (Holding) Ltd to set up a joint venture and produce new energy vehicles in the northern coastal city near Beijing.
BYD will invest 2 billion yuan to build a new production line in Tianjin with a designed capacity of 10,000 new energy vehicles. At the outset the facility will mainly assembles electric buses.
(China Daily 08/06/2012 page19)
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