BYD Delivers First E-Buses of Turin Fleet

(BRK.A), (BRK.B)

BYD has delivered the first three pure electric e-buses for the public transportation in Turin, Italy.

The three BYD e-buses are the first of a fleet of 23 which are being delivered after BYD won Italy’s first big tender for 12 metre pure electric buses which was awarded in September last year.

Twenty of the buses will serve routes in Turin with a further three going to nearby Novaro.

The long range, full size e-buses will operate on Piedmont Region’s urban transport networks connecting the city centers with suburban areas. BYD will also supply full service support for 10 years.

“We are proud to manage, in Turin, the first 12 metre electric bus fleet in an Italian city”, said President and CEO of GTT, Walter Ceresa. “This is an important environmental contribution, that confirms GTT as a cutting-edge company in innovative solutions for Public Transportation”.

“Italy, together with the UK, France and countries in Benelux and Scandinavia, is now truly a top market for BYD in Europe thanks to the vision of GTT to make Turin green”, said Isbrand Ho, Managing Director of BYD Europe in Turin today. “We are delighted to win this order in the face of strong international competition”.

The tender announced by GTT (Gruppo Torinese Trasporti) in the Autumn of 2015 was the first and most important modular tender for the purchase of large electric buses in Italy.

GTT, owned by the City of Turin, serves a metropolitan area with 2 million citizens and operates a fleet of more than 1,100 buses. The BYD e-buses are the first new buses to be ordered for almost 5 years.

Across Europe bus operators are showing an increasing interest in pure electric technology: a technology that is the natural, inevitable evolution of urban public transportation in the medium term.

BYD is the world-wide market leader with over 20,000 buses delivered, as of the end of 2016.

BYD and Berkshire Hathaway

In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares. It’s an investment that has paid off handsomely. Berkshire’s original investment of $230 million is now worth roughly $1.8 billion.

For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.