Facts about BYD to Correct the Record

BYD
November 6, 2013

Recently, there have been inaccurate media reports about BYD and its employees. For the public's and our own benefit, BYD is correcting the primary misstatements. BYD produces safe and reliable, high-technology, green, electric-powered vehicles for public transportation.

1) Inaccurate and misleading reports, based on incomplete information, have circulated concerning BYD's compensation package for Chinese employees temporarily working in California. Our specialists from China earn wages greater than the state and federal minimum standards for their work in the United States. Indeed, the hourly wage of the five professionals referenced in media reports ranged from $12/hour to $16/hour for their work in the United States.

2) BYD in China has been temporarily loaning its highly-experienced engineers, battery specialists, bus-design specialists, and other professionals to train and support the approximately 40 California-based employees who BYD already has hired to start up its operations and to help transition our state-of-the-art green technology. BYD plans to hire many more California-based employees as its bus production commences.

3) BYD is working cooperatively with the California Division of Labor Standards Enforcement (DLSE) to address and promptly resolve any technical issues unique to California wage and hour law.

4) BYD will conform to all requirements of the agreement with the City of Los Angeles in return for the $1.6 million grant -- including providing 58 full-time jobs for Americans/Californians by August 2015, of which 24 jobs are targeted for low-and moderate-income persons and 51% from City of Los Angeles residents.

About BYD

"BYD is a publicly-traded company with no Chinese government ownership. In fact, U.S. investors own over 60% of the public stock, with Warren Buffet’s Berkshire Hathaway owning 9.9% of that amount. Mr. Buffett and his colleagues recognize BYD's breakthrough battery and EV technologies: an electrified, 24-hour, and long-range battery that provides emission-free, silent, and economic public and private transportation.

As the world's largest manufacturer of rechargeable batteries, BYD's mission is to create safer and more environmentally-friendly battery technologies, and this has produced the BYD Iron Phosphate Battery. This fire-safe, completely recyclable, and incredibly long-cycle technology has become the foundation of BYD's clean energy platforms. For more information, please visit www.byd.com and www.facebook.com/bydcompany.