BYD Gets Major EV Bus Order from Australian Company

(BRK.A), (BRK.B)

China’s BYD Company has secured an order for 40 pure electric buses from Australian airport ground transportation provider Carbridge.

The contract was signed at the end of January in the presence of senior executives from BYD and Carbridge, three months after the first BYD Electric Blu bus made its commercial debut at Sydney Airport.

“We are the first Chinese company to crack Australia’s electric bus market, having come a long way since the trial of our electric buses at the country’s busiest airport in Sydney in late 2014,” said Liu Xueliang, General Manager of BYD’s Asia Pacific Auto Sales Division. “This additional order from a large transport provider like Carbridge is testimony to our quality service and state of the art technology – and was a very nice present just before the Lunar New Year.”

The Electric Blu bus has a carrying capacity of 70 passengers; features purpose-designed luggage storage racks and has a range of 400km on a single charge. The fleet of six currently in operation at Sydney Airport is also estimated to lower carbon emissions by 160 tons a year, reduce waste fluids and noise levels.

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.

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.