BYD likely to set up U.S. plant and HQ in California

Shanghai, March 10 (Gasgoo.com) China's electric car maker BYD Co. may build an assembly plant and open its North American headquarters in Los Angeles County, California, MarketWatch said today.

The possible BYD plant may cover more than 1 million square feet and create hundreds of jobs. The location of the headquarters could be announced within the next few months, while any decision on an assembly plant would follow, according to a local report.

Local authorities from both the Los Angeles County and Los Angeles City reportedly met BYD executives to woo the firm to locate its office and assembly line on their premises. Long Beach and Lancaster have also joined the race to attract the Chinese carmaker.

BYD, 10% backed by U.S. billionaire Warren Buffett, displayed its e6 electric crossover at the 2010 Detroit auto show in January, and said it planned to start selling the car in the U.S. later this year and in Europe next year.

As the largest auto market in the U.S., California has recently seen a mushrooming of "green tech" companies involved in the research and production of electric and other alternative energy vehicles.

After teaming up with German auto giant Daimler-Benz to make an A-class electric vehicle, the Chinese automaker BYD, or Build Your Dreams, may really build an American dream in California.