Chinese vehicle and battery maker BYD Company is adding 40,000 additional square feet to its existing facility in Lancaster, California. The move comes as the company continues to make in-roads in selling its pure electric buses and medium- and heavy-duty trucks in the U.S. market.
“The people who work at BYD’s Lancaster plant are assembling buses for transit systems all over the country and soon we’ll be able to increase production line capacity to deliver these cutting-edge zero emission vehicles even faster to customers,” BYD America president, Stella Li, said in a statement.
BYD plans a third phase of expansion that will bring the facility to full capacity.
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 $1.77 billion.
No telling how much Samsung’s shares will appreciate, but they obviously want in on a company that is quickly becoming leading company in both the IT industry and automobile industry.
For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.
© 2016 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.