BYD, a China-based electric car manufacturer, is expanding into the U.S. energy market and has signed a Memorandum of Understanding with the The Los Angeles Department of Water & Power to provide storage for its renewable energy sources.
Under the agreement, the Warren Buffet-backed company will develop a 5- to 10-megawatt power storage unit for the LADWP that will be housed at the utility's wind power facility in the Tehachapi mountains. The storage unit will help LADWP expand its delivery of renewable energy, and will help it comply with a recently passed California state bill that requires electric utilities to implement energy storage technologies by 2016.
The move may also help BYD increase its domestic presence and build its brand. BYD previously announced that it will begin its e6 electric car in the U.S. by the year's end. As there are just a few months left in the calendar year, that promise may be tough to fill. Even so, the company is laying the groundwork for its rollout and has signed a deal with the city's Department of Light and Power to install a, according to Automotive News.