China's BYD wins annual LA Foreign Direct Investment Award

LOS ANGELES - China's leading electric vehicle manufacturer BYD won "Award of Year" presented by the Select LA Investment Summit, an annual meeting held at the World Trade Center Los Angeles (WTCLA).

"We are proud that WTCLA recognized BYD's positive impact on the LA economy, especially our ability to improve the workforce through higher wages and job growth," said Stella Li, president of BYD Motors, in a press release sent to Xinhua Monday.

BYD was chosen for making significant contributions to the local economy, attracting new investment to the region, creating good paying permanent jobs, and improving the environment.

Bringing approximately $300 million in investment capital into the United States since 1999, BYD has created over 800 good-paying jobs for local community and sold more than 700 buses and trucks.

Established 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 solely promote 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 was quoted as saying.

BYD, meaning "Build Your Dreams", is the world's largest electric vehicle manufacturer, as well as the largest electric bus maker in North America.