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BYD Labor Issues Resolved by California Labor Commission, Minimum Wage Dispute Dropped, Technical Fines Reduced by Two-Thirds

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BYD Labor Issues Resolved by California Labor Commission, Minimum Wage Dispute Dropped, Technical Fines Reduced by Two-Thirds

BYD
March 14, 2014


Los Angeles, California, March 13, 2014 – We are pleased that the decision by the Labor Commissioner Hearing Officer resulted in a reduction by almost two thirds - from $99,245 to $37,803 - in the fines assessed against BYD for good faith technical errors (such as allowing several workers one 20 minute break so they could have breakfast together rather than two 10 minute breaks).

We are especially happy that the false charge, unfortunately widely published in local and national media, of payments to five temporary Chinese professionals below California's minimum wage was dropped by the Commissioner before the hearing.

BYD is an American start-up company that has built two factories; an electric bus factory and an energy module factory in Lancaster, California, with an administrative office in Los Angeles and already created more than 50 jobs. We expect to double the new jobs to 100 by the end of this year, and doubling again to 200 jobs by 2015. We are proud of our zero-emission electric buses and longer lasting batteries than any other electric or hybrid bus manufacturer. We look forward to continued new jobs for California in years to come. Please visit www.byd.com/na/media/record.html.

About BYD

BYD Company Ltd. is one of China’s largest companies and has successfully expanded globally. Specializing in battery technologies, their green mission to “solve the whole problem” has made them industry pioneers and leaders in several High-tech sectors including High-efficiency Automobiles, Electrified Public Transportation, Environmentally-Friendly Energy Storage, Affordable Solar Power and Information Technology and Original Design Manufacturing (ODM) services.

As the world’s largest manufacturer of rechargeable batteries, their mission to create safer and more environmentally friendly battery technologies has led to the development of the BYD Iron Phosphate (or "Fe") Battery. This fire-safe, completely recyclable and incredibly long-cycle technology has become the core of their clean energy platform that has expanded into automobiles, buses, trucks, utility vehicles and energy storage facilities. BYD and all of their shareholders, including the great American Investor Warren Buffett, see these environmentally and economically forward products as the way of the future.

BYD has made a strong entrance to the North, Central and South American markets with their battery electric buses, and lineup of automobiles. Their mission lies not just in sales growth, but also in sociological integration and local job creation as they have poured incredible investments into developing offices, dealerships and manufacturing facilities in the local communities they now call home, truly a first for Chinese companies. For more information, please visit www.byd.com



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