Going head to head with Tesla’s Powerwall, Chinese new energy technology company BYD is looking to capitalize on the success of its B-Box home power storage system and will introduce the device in the US later this year.
The company will initially focus on east and west coast states, as well as Hawaii, where conventional electricity costs are high, and grid constraints make storage applications attractive.
BYD’s B-Box systems are already on sale in Germany, where it uses nine battery modules for a combined capacity of 11.52 KWh. The modular design enables the capacity of the B-Box system ton be further expanded as required. Up to five systems in total can be connected in parallel.
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.