BYD Hopes To Raise $2.4 Billion To Finance Expanded Production Of Batteries, New Energy Vehicles

BYD announced its intention to raise 15 billion yuan (US$2.4 billion) in equity placements. The main purpose for the funding is to finance expansion of the company’s lithium-ion battery production and development of new New Energy Vehicles (that’s all-electric and plug-in hybrids for those outside China). Cash will be needed also to replenish working… …read more