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China Carmaker Puts N. A. Headquarters in LA
China enters the US car market with an electric car and a mission of corporate love. What?
Associated Press reports that "a rapidly expanding manufacturer of all-electric cars, solar panels and other green products from China announced Friday it will open a North American headquarters in Los Angeles, with plans to begin selling autos in the U.S. by the end of the year."
BYD Inc. of Shenzhen, China, will initially create about 150 "green jobs" as the company hires managers, designers and engineers to staff the new downtown headquarters. As it begins to market cars in the United States, officials expect several hundred more jobs to be created in related industries involving service and sales.
The company moved into the car business in 2003 and began selling the world's first mass-produced plug-in hybrid, the F3DM, in 2008.
BYD introduced its latest model, the all-electric e6 at Detroit's annual auto show earlier this year. The crossover sedan-wagon model will begin selling in the United States the end of 2010.
According to BYD's website, U.S. billionaire Warren Buffett bought a 10 percent stake in the company in 2008.
Love spoken of as a corporate mission...?
You don't often hear the word "love" spoken of in corporate mission statements. Maybe this is why Mr. Buffett decided to invest in the company...
BYD stands for "Build Your Dream".
"In 2008, after the destructive Sichuan Wenchuan earthquake, the company paid close attention to the disaster and people’s living condition in the disaster-hit areas. BYD’s initial step was to donate 10 million RMB and immediately dismantle 1000 hoisting jacks from new cars—which were quickly delivered by air through the army—to be used to save as many lives as possible at the rescue sites. Later, President Wang Chuanfu led the top team of the company to personally donate 3 million RMB to help rebuild schools after disaster. The company also organized donation activities many times among its staff and properly arranged the job of helping and comforting staff affected by the disaster, insisting they spend their time overcoming difficulties and reconstructing their homes. The company considerately admitted 5 students from the disaster-afflicted areas into the Shenzhen Yadi School. In addition, via contacts obtained during relief efforts, BYD also arranged for over 40 graduates to work in the company. Emerging from the big disaster, as the independent brand of China and bearing the dream of revitalizing the national industry, BYD’s selfless contribution to earthquake relief received praise and appreciation from all sectors of society.
A sense of love and charity is part of great enterprise spirit and also a noble human feeling. BYD has taken on social responsibility as an important part of enterprise spirit, insisting on contributing back to society, being dedicated to social public welfare, advocating an enterprise with a sense of love, and trying its best to contribute to China’s harmonious development."
Interesting...maybe we will gain a new perspective on corporate visions from this Confucian perspective.
Edited by Carolyn Allen