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BYD to boost automobile unit's capital by $1.7 bln

HONG KONG, Nov 19 (Reuters) - Chinese electric vehicle company BYD Co will increase the capital at its automobile unit by $1.7 billion to step up its investment in the new energy car business, it said in an exchange filing on Friday.

The capital increase, to $3.75 billion from $2.05 billion, will boost the automobile unit’s operation and production capabilities, as well as enhance its research ability, BYD said in the filing posted on the Shenzhen stock exchange. (Reporting by Meg Shen Ediditng by Mark Potter)

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