BYD powers into monorail business

Carmaker is confident of earning 30 billion yuan in revenue from the new sector next year

BYD, China's biggest electric carmaker, launched its first commercial monorail train service in Yinchuan, capital of the Ningxia Hui autonomous region, on Friday.

Its SkyRail is also China's first straddle-type monorail system. BYD has intellectual property rights to its design and other aspects.