BYD, the Chinese carmaker backed by billionaire investor Warren Buffett, said yesterday that it would launch a joint venture in Bulgaria to produce electric buses, marking its first assembly plant overseas.
The move is the latest by a Chinese carmaker to expand abroad into emerging markets, including Southeast Asia and India.
A BYD spokeswoman declined to disclose investment details about the 50-50 joint venture with Bulgarian energy firm Bulmineral, which will be based in Breznik, a small town about 50 kilometres west of Sofia.
via Business feed http://www.scmp.com/business/china-business/article/1103786/byd-makes-inroads-bulgaria-market-electric-buses
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