BYD, China's largest automobile manufacturer, has inked a cooperative agreement with the Argentinean government to produce electric vehicles for public transportation in this country.
The Ministry of Economy and Production of Argentina said that the country is expected to become a platform for BYD to export electric vehicles to Latin America, Mexico and rest of the world.
Last week, BYD set up headquarters in New York for its market expansion in North American, becoming the first Chinese auto maker with a local branch in the continent. Here, BYD has signed an agreement with local auto leasing firm Hertz, will focus on the manufacturing of e-buses and e-taxies in the U.S.
In the first three quarters of this year, BYD have sold 326,379 vehicles reflecting a profit diminished with 85.5%, reaching 352.7 million yuan ($55.5 million), but its net profit for the third quarter grew with 582% to 77.37 million yuan ($12.23 million).
