BYD Company Limited (“BYD”) and Automotive Parts and Accessory Systems R&D Centre Limited (“APAS”) signed today (17 August 2011) a Memorandum of Understanding (“MOU”) on the collaboration on the research and development (R&D) of electric vehicles in Hong Kong.  The signing of this MOU was witnessed by China’s Vice-Premier, Mr. Li Keqiang and the Chief Executive of the Hong Kong Special Administrative Region (HKSAR), Mr. Donald Tsang, together with over one hundred honorable guests.

The President and Chairman of BYD, Mr. Wang Chuanfu, is very excited about the collaboration  with APAS on promoting the development of electric vehicles-related technologies in Hong Kong. Mr. Wang said that BYD, on the basis of this MOU, would formulate a blue print for carrying out the collaboration projects and enhance the collaboration with APAS and other research institutes in Hong Kong on the development of key technologies of electric vehicles, with a view to promoting the development of low-carbon environmental technologies in Shenzhen and Hong Kong.

The Chairman of the Board of Directors of APAS, Dr. Ng Tat-lun, said that “it is the great pleasure of APAS to collaborate with BYD, a top-notch electric vehicle manufacturer in the Mainland, on R&D. New energy automobile is one of the key areas of technological development under the National Twelfth Five-Year Plan.  This MOU will further enhance the collaboration between the Mainland and Hong Kong on new technologies.  Indeed, the technology sector in Hong Kong is very pleased to participate in driving the development of this important area.”

In July this year, BYD announced at the Shenzhen-Hong Kong Co-operation Forum its plan to collaborate with research institutes in Hong Kong on developing electric vehicles.  The signing of this MOU aims to provide an overall plan and concrete projects to realize the commitment to collaboration.

BYD plans to set up this year an electric vehicle R&D centre in Hong Kong Science Park.  In the coming two years, BYD will carry out five R&D projects in partnership with APAS and other research institutes in Hong Kong, with a view to jointly developing electric vehicles-related technologies.   At the same time, a project will be launched this year to integrate BYD’s electric vehicles and technologies with three products developed in Hong Kong, for purposes of conducting trial run and future R&D collaboration.