BYD and Bank of Xi'an gain official approval to open new auto financing company

Gasgoo.com (Shanghai September 9) - The China Banking Regulatory Commission has officially approved BYD and the Bank of Xi'an's plan to jointly establish the new BYD Financial Co., Ltd. in Xi'an, Shaanxi, the Economic Daily reported today. Both BYD and the Bank of Xi'an will jointly invest funds to set up the automotive financing company, which is the first of its kind in northwestern China. The company will aim to provide bank-free automotive financial services to consumers from that region of the country.