Electric car and truck maker BYD is reportedly planning to open an assembly plant in Ontario. The company anticipates a surge in electric truck demand from governments and businesses and wants to meet that with local production.
BYD is planning to open the facility in Ontario next year, starting with about 40 people. BYD Canada spokesman Ted Dowling told Bloomberg. "There is less of a barrier to entry when it comes to having Chinese products in Canada compared to the US," Dowling said.
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The company, partly owned by Warren Buffet's Berkshire Hathaway, wouldn't say where the plant would be located or how much of an investment it was making. BYD expects to make an announcement in a few weeks.
"BYD is a global company, but we like to localize," Dowling said. "It doesn’t make sense to build everything in China and then ship it. It makes more sense to utilize the incentive programs and policy changes and create jobs in different markets."
BYD will start operations using components from China and will be building short-range heavy-duty electric trucks. Think garbage trucks and delivery trucks. The company intends to expand and add more Canadian content in the future. The company's electric bus plant in California has grown from 100 to 700 workers in just five years.
The move comes as more and more businesses are beginning to electrify. Loblaws announced last week that it plans to electrify its truck fleet. Transit systems across the country, including Toronto, Edmonton, and Vancouver are also moving to electric buses.Company's second NA plant 11/15/2017 1:27:12 PM 11/15/2017 1:27:12 PM