BUENOS AIRES May 15 Automobile manufacturer CTS
Auto, a subsidiary of China's BYD Co Ltd,,
plans to invest an initial $100 million to build electric buses
in Argentina, a CTS spokesman said on Monday.
A resolution allowing the company to operate in Argentina
also appeared in the official gazette on Monday, as President
Mauricio Macri visits China to seek investment.
"Since this government started there have been a lot of
changes in place," CTS spokesman Isaac Attis said in a phone
interview. "A different climate has been generated."
Macri took office in December 2015, ending more than a
decade of leftist, interventionist policies in Latin America's
No. 3 economy and declaring Argentina open for business.
BYD, backed by Warren Buffett's Berkshire Hathaway Inc
BRKa.N, specializes in electric and plug-in petrol-electric
The government resolution said CTS Auto should start
building an auto plant within 180 days and should be producing
before Jan. 1, 2019.
(Reporting by Eliana Raszewski; Writing by Caroline Stauffer)