Largest electric car maker establishing fund for country's monorail sector

China's largest electric car maker BYD Co's decision to develop a monorail system could complement its main business and add to its existing advantages, but the market's reaction remains to be seen, analysts and scholars said.

BYD announced on Sept 28 that its two subsidiaries were setting up an investment fund worth 4.65 billion yuan ($699 million) with China Resources Shenzhen International Trust, which is also known as CRSIT.

This is the latest move in the company's development of its monorail train business.