BYD to increase market presence of SkyRail

Monorail project to play an important part in carmaker's overseas evolution

New energy carmaker BYD is speeding up plans to expand the market for its SkyRail monorail mass transit system as it is under growing pressure due to electric vehicle subsidy cuts.

The Shenzhen-based firm told China Daily it is in discussions over eight SkyRail deals in the Americas, including the US, and expects to finalize at least two deals this year.