Chinese Automaker Suspends Plans for Electric Truck Plant in Ontario

China's BYD Co. Ltd. has put plans to open its first Canadian electric truck plant on hold citing the lack of a "business case" to move forward with the project. BYD said it could revive the project at a future date, but the Ontario plant that would have employed 40 workers and boosted green manufacturing in the province has been suspended. BYD is backed by Warren Buffett's Berkshire Hathaway Inc. In July, BYD landed an order from the Toronto Transit Commission, the country's largest transit operator, for ten buses with an option for 30 more. Canadian grocery store operator Loblaw Co. Ltd. tested BYD's vehicles last year, and is hoping to place an order next year, it said in a statement. Buffett bought 10 per cent of BYD in 2008 for US$230 million, and the company's market capitalization has since topped US$20 billion, thanks to China's booming electric car market.

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