(BRK.A), (BRK.B)
China’s BYD Company, the Shenzhen-based new energy technology company, has launched a solar panel factory in the southeastern Brazilian city of Campinas, the country’s first zero ecosystem project. With an initial investment of R$150 million, the plant will have a production capacity of 200 megawatts and generate 360 jobs.
BYD Brazil’s solar panels contain the exclusive state-of-the-art technology Double Glass. Double Glass increases energy production by 7 percent compared to previous modules extends durability to 50 years and offers a lower product degeneration rate of 0.3 percent. This is a significant reduction from the 0.7 percent experienced by solar panels with EVA.
“BYD is a global high tech company. As such our goal is to bring the world’s best technology to Brazil, creating new jobs and generating innovation in the country. With local production we will help consolidate the distribution and generation markets,” says Tyler Li, General Manager of BYD Brazil and President of BYD Energy do Brasil.
Additionally BYD Brazil also announced that they will be nationalizing their electric bus chassis production line. Located in the same complex as the photovoltaic solar modules, the installed capacity for the electric bus unit is 720 chassis per year.
BYD was the first factory to produce and sell 100% electric bus in Brazil. Its investment in Brazil extends to a wide variety of products including the world’s first electric garbage collector truck. Its electric cars are also used in corporate fleets, taxis, and the logistics industry. The company is aiming to invest in engineering localization and infrastructure construction in the near future. “The proportion of local technology used in the production will gradually increase over the years,” said local development manager Marcos Caderllini. “We aim to broaden this proportion from 20 to 70 percent by 2022,” he said.
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.