U.S. Markets closed

News Summary: China to open bus plant in CA

The Associated Press

ELECTRIC AVENUE: A Chinese company plans to build all-electric buses in California's Mojave Desert. It would be the first Chinese-owned vehicle manufacturing plant in the United States.

GOING LONG: BYD Automotive, which opened its North American headquarters in Los Angeles in 2010, says the plant will initially turn out 10 electric buses for the city of Long Beach. It expects the vehicles, with a range of 150 miles between charges, to be delivered next year.

HEAVY TRAFFIC: China has surpassed the United States as the world's largest auto market, but the popularity of U.S. and Japanese cars inhibit Chinese manufacturers at home. They are looking to expand overseas.