BYD to buy Hunan Sanxiang Bus

Chinese battery and electric car manufactuer BYD Auto Co. Ltd. is in an ongoing negotiation to procure a bus manufacturer in Hunan worth at least RMB2 billion. This agreement shall provide the company a plant to increase the production capacity of its biofuel-operated vehicles. If the talks are successful, the newly acquired plant, owned by Hunan Sanxiang Bus Group Co. Ltd., will be BYD’s third mainland manufacturing base and shall be used to produce sedans, small vans and components. (July 11, 2009)