Category Archives: Stock Portfolio

BYD Nabs Europe’s Largest-Ever Zero-Emission Bus Order

(BRK.A), (BRK.B)

China’s BYD has secured the largest ever single order for electric buses in Europe.

The landmark order with Keolis Nederland BV comprises 259 pure-electric, 100% emissions-free BYD eBuses scheduled for programmed delivery from next summer.

Keolis Nederland BV is the Dutch subsidiary of global public transport provider, Keolis.

“This is a momentous occasion for BYD,” said BYD Europe Managing Director, Isbrand Ho, “and also represents a huge commitment to electric mobility since it becomes the largest European fleet ever switched to electric at one time.”

The deal was reached following close cooperation between Keolis and BYD to devise a demanding whole-life package which delivers a total transport solution and takes into account operational needs and passenger comfort requirements.

The deal was confirmed on Friday 6thDecember at Keolis’ head office in Deventer in the Netherlands with the contract being signed by Frank Janssen, the CEO of Keolis Nederland and Isbrand Ho, Managing Director of BYD Europe.

This latest order follows a number of recent significant deals for BYD with major public transport operators right across Europe – further reinforcing BYD’s strong and leading position in Europe where it has made deliveries and taken orders in nearly 60 cities and more than 10 countries, to-date totaling more than 1,200 electric buses.

For Keolis Nederland, BYD’s 8.7-metre midi bus, 12-metre and new 13-metre eBus models will enter service from the end of 2020 on routes throughout the Netherlands’ IJssel-Vecht region, including front-line operations in the municipalities of Zwolle, Apeldoorn and Lelystad. BYD’s 13-metre modelis equipped with new upgraded battery technology to provide extended range and ‘city-to-city’ capability.The majority of the Keolis order comprises 206 of BYD’s best-selling 12-metre model all of which will be equipped with pantographs.

In 2016, the Dutch minister of Traffic and Infrastructure signed a covenant which aims to reduce emission, such as CO2, Nox and PMs by 2025. Keolis has surpassed this target by operating almost emission free straight from the start of the concession.

With its headquarters in Rotterdam, the Netherlands, has provided BYD with a staging post to extend its European activities, and has also seen some strategically important orders for the company. Notably in 2012, BYD won its first European order to supply six eBuses to the Dutch national park island of Schiermonnikoog, the first public tender for electric buses in Europe. High profile deals followed soon after, including 35 BYD eBuses for Schipol Airport – the first airport worldwide to adopt airside electric mobility. In just seven years, BYD has delivered electric mobility to Public Transport Operators in towns and cities right across Europe, emerging today as the market-leading eBus brand.

Frank Janssen, CEO Keolis Nederland is delighted and proud to partner with BYD in operating the largest zero emission bus fleet in Europe starting December 2020. “It is another milestone for Keolis Nederland and the Keolis Group in developing and deploying electromobility solutions around the world and it reaffirms our commitment to supporting public transport authorities in the transition to sustainability. We’ve chosen BYD due to our excellent experience with their e-buses. These are a fundamental part in our daily operation to the full satisfaction of our passengers and employees. Furthermore we trust in BYD’s expertise as a manufacturer in developing and maintaining battery-packages.”

“This is another landmark deal for BYD in Europe,” said BYD Europe Managing Director, Isbrand Ho, “but, this is more than simply building and supplying 259 eBuses – significant though that is – we have worked tirelessly with Keolis to provide a complete transport solution. Delivery programmes on this scale,” he said, “can only be achieved through excellent cooperation and by striking up a long-term partnership. Our relationship with Keolis provides an excellent template to explore opportunities with other large fleet operators.”

This announcement of the Keolis order, the largest in European history, further underlines BYD’s credentials as the world’s leading electric bus manufacturer, after last month’s order from public transport operator, TransMilenio SA, in the Columbian capital of Bogotá to supply 379 eBuses scheduled to enter service in September 2020.

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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

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

© 2019 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.

Defense Authorization Act Threatens BYD’s U.S. E-Bus Sales

(BRK.A), (BRK.B)

China’s BYD could find its growing presence as a supplier of eBuses in the United States cut short if the current version of the National Defense Authorization Act become law.

The NDAA contains a key provision barring federal dollars from being used to purchase passenger rail cars or buses from state-owned or state-controlled enterprises, including BYD, which assembles its buses at its plant in Lancaster, California.

The plant employs some 750 workers, and was recently scheduled for expansion.

Proponents of the bill cite cybersecurity concerns.

BYD has been receiving an increasing number of large order for its eBuses from municipalities, including 130 of its eBuses that were ordered by LADOT for Los Angeles’ “Green New Deal” program, which aims to have the entire LADOT fleet be run with zero-emission buses before 2030.

BYD has already sold 460 eBuses in Southern California alone, and if the NDAA is enacted in its current form the company would be immediately banned from selling to Washington, DC’s Washington Metropolitan Area Transit Authority (Metro). The bill bans both buses and railcars.

“BYD’s electric vehicles are increasingly popular with municipalities, airports and other customers across the United States, and we will work to redouble our sales and continue deliveries of high-quality vehicles to our customers,” BYD said in a statement. “This unfortunate decision rewards a special interest misinformation campaign to squash competition in the electric bus sector and could weaken American competitiveness, threaten hundreds of union jobs and undercut our country’s fight against climate change.”

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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

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

© 2019 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.

Norway Latest Country for BYD

(BRK.A), (BRK.B)

China’s BYD has received an eBus order for Oslo, Norway, as the company continues to make inroads in the European market.

Unibuss, a Norwegian bus company based in Oslo, has placed an initial order for 23 new 12 metre pure electric BYD eBuses.

The buses are expected to go into service in the second quarter of 2020.

The Unibuss order comes on the heels of a 55 eBus order from Norway’s government-owned national rail and bus company.

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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

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

© 2019 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.

Anheuser-Busch Highlights First Zero-Emission Beer Delivery Featuring BYD Truck

(BRK.A), (BRK.B)

Beer brewer Anheuser-Busch, in partnership with Nikola Motor Company (Nikola) and BYD Motors LLC, completed their first ever ‘Zero-Emission Beer Delivery’ in the company’s hometown of St. Louis – utilizing both companies’ innovative fleet technology to deliver beer from the local Anheuser-Busch brewery to the Enterprise Center using only zero-emission trucks.

The Nikola hydrogen-electric truck picked up the load of beer, including flagship beer brand Bud Light, and delivered it to Anheuser-Busch local wholesaler partner, Lohr Distributors – marking the first commercial delivery onboard a Nikola hydrogen-electric vehicle. Lohr Distributors then delivered the beer to the Enterprise Center, home of the St. Louis Blues, on a BYD electric truck – a milestone delivery for the brewer as the beer reached its destination with zero-emissions from transportation.

“At Anheuser-Busch, we are continuously searching for innovative ways to improve sustainability across our entire value chain, progressing towards reaching our sustainability goals and driving our industry forward,” said Ingrid De Ryck, Vice President of Procurement and Sustainability at Anheuser-Busch. “No single company can build a more sustainable future alone but this zero-emission delivery has shown what is possible when we bring together the various strengths and assets within our supplier network to work towards a shared objective of a better world.”

The delivery builds on Anheuser-Busch’s ongoing commitment to sustainability and existing partnerships with both Nikola and BYD. Through their 2025 Sustainability Goals, Anheuser-Busch has committed to reducing carbon emissions across their value chain by 25% by 2025.

Last year, Anheuser-Busch placed an order for up to 800 hydrogen-electric powered semi-trucks from Nikola, a pioneer in hydrogen-electric renewable technology. The partnership will help the brewer transition their entire long-haul dedicated fleet to zero-emission vehicles.

“As the first commercial delivery of freight with our hydrogen-electric truck, this is an exciting time for both Nikola and Anheuser-Busch. This milestone will become an example for all other OEM’s to move away from diesel trucks and towards zero emission vehicles,” said Trevor Milton, Nikola’s chief executive officer. “We look forward to helping the Anheuser-Busch team achieve their sustainability goals by leveraging Nikola’s zero-emissions technology. We are now preparing production vehicles for Anheuser-Busch and plan on delivering the trucks as fast as possible.”

To complement the Nikola partnership within their routes, Anheuser-Busch also announced a pilot project with BYD in California last month to improve the sustainability of their fleet at four Anheuser-Busch distribution facilities across southern California. The 21 BYD electric trucks as well as a 958.5 kW solar array to charge the vehicles will be implemented this year as the largest Class 8 electric truck deployment in North America.

“Partnering with Anheuser-Busch is a great opportunity to showcase BYD’s performance and reliability with an industry leader,” said Stella Li, President of BYD Motors. “Our dedication to innovation pairs nicely with Anheuser-Busch’s sustainability commitment.”

To further highlight the power of partnership, Anheuser-Busch is hosting more than 100 strategic suppliers and partners in St. Louis this week for their inaugural Eclipse Summit to discuss best practices and align on collective action in sustainability. Both Nikola and BYD will be participating in the summit to highlight their cutting-edge technology and the impact of their partnerships with the brewer.

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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

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

© 2019 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.

BYD Receives 379 E-Bus Order from Bogotá, Columbia

(BRK.A), (BRK.B)

BYD will provide the Colombian capital of Bogotá with a fleet of 379 pure electric buses, in a deal awarded by the capital’s TransMilenio SA mass transport authority.

The fleet will begin operations in September 2020, giving Bogotá the largest electric bus fleet on the continent and one of the largest in the world.

Along with the 64 pure electric buses in Medellín, Colombia will have a total of 443 BYD electric buses, putting it at the vanguard of Latin America’s rapid push towards public transport electrification.

The buses will be manufactured entirely by BYD and operate in the Integrated Public Transportation System – SITP, with the towns of Usme and Fontibón to be the first to enjoy the firm’s cutting-edge electric bus technology. This order also sees BYD again smashing the record for the largest electric bus order in the Americas, following its delivery of 183 buses to Chile during August 2019.

“With the arrival of zero emission electric buses to the SITP, we fulfilled a dream that this administration had proposed, and for which we worked hard, to give the city a better public transport service, with technology that’s both state-of-the-art and user-friendly,” said María Consuelo Araujo, General Manager of TransMilenio SA.

“The Somos Group has over 50 years of experience in passenger transport in Bogotá and 20 years in the TransMilenio system, for us the operation of electric buses is a great challenge and we trust that it will bring great benefits to all of Bogotá’s citizens,” said Enrique Wolf, General Manager of the Somos Group. “BYD has shown great interest in the Latin American and Colombian market and was an essential part of our decision to enter this business, by giving us the necessary confidence and solidity that should support such an important process.” Somos Group is one of the local bus operators that will run BYD electric buses.

“BYD’s successful bid to provide 379 buses today is a great achievement for Bogotá and TransMilenio, which is leading the global shift to cleaner and more sustainable transport,” said Lara Zhang, Country Manager of BYD Colombia. “More importantly, these electric buses produce zero emissions and are environmentally friendly, bringing better air quality and improved living conditions to local people. Today is an important milestone in the transport history of Bogotá, and every Bogotá resident should be proud of being part of the great transition to electric.”

It is estimated that in its first year of operation, this fleet will cancel out 21,900 tons of CO2 and 526 kilograms of PM 2.5 pollutant particles. It will also be 60% cheaper to operate these buses, compared to traditional diesel-powered buses.

BYD’s zero-emission transportation solutions have gained ground in Latin America, and now successfully service markets in many other countries across the region, including Ecuador, Chile, Brazil, Peru, Panama, Uruguay and Argentina, which join the nations across the world betting on greener, electrified public transport systems to help tackle climate change. Globally, BYD buses, taxis and other electric vehicles are present in more than 300 cities, 50 countries and regions.

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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

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

© 2019 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.

BYD and Toyota Form Joint R&D Car Venture

(BRK.A), (BRK.B)

BYD Company Ltd. and Toyota Motor Corporation have signed an agreement to establish a joint company to research and development for battery electric vehicles (BEVs).

The new R&D company, which will work on designing and developing BEVs (including platform) and its related parts, is anticipated to be established in China in 2020, with BYD and Toyota to evenly share 50% of the total capital needed.

Additionally, BYD and Toyota plan to staff the new company by transferring engineers and the jobs currently involved in related R&D from their respective companies.

On the establishment of the new company, BYD senior vice president Lian Yu-bo said:

“We aim to combine BYD’s strengths in development and competitiveness in the battery electric vehicle market with Toyota’s quality and safety technology to provide the best BEV products for the market demand and consumer affection as early as we can.”

Toyota executive vice president Shigeki Terashi commented:

“With the same goal to further promote the widespread use of electrified vehicles, we appreciate that BYD and Toyota can become “teammates”, able to put aside our rivalry and collaborate. We hope to further advance and expand both BYD and Toyota from the efforts of the new company with BYD.”

BYD was founded in 1995 as a battery business and has grown into a total energy solution company, manufacturing not only electrified vehicles but other products such as large-size energy storage cells. The company name BYD stands for “Build Your Dreams” and core parts for electrified vehicles such as batteries, motors and power electronics are among the products that BYD develops in-house. In 2008, BYD became the first company in the world to sell mass production of plug-in hybrid electrified vehicles (PHEVs).

Since 2015 onwards, BYD’s sales of BEVs and PHEVs have been ranked first in the world for four consecutive years.

Since Toyota launched the Prius, the world’s first mass-produced hybrid electric vehicle (HEV), in 1997, the company has become a pioneer of electrified vehicle development with a focus on HEVs. Toyota has sold more than 14 million electrified vehicles worldwide and has accumulated extensive knowledge concerning the development, production, and sale of both HEVs and their related core components. Also, based on the thinking that electrified vehicles contribute to the society only when its popularized, Toyota is initiating electrification globally. In China, Toyota is also working on spreading electrification and also developing vehicles which meets Chinese customer’s needs in collaboration between Toyota Motor Engineering & Manufacturing (China) Co., Ltd. (TMEC) and the R&D centers established at Chinese joint-venture companies with China FAW Group Corporation (FAW) and Guangzhou Automobile Group Co., Ltd (GAC).

With the newly established joint R&D company, Toyota and BYD aim to work together to further develop BEVs that are attractive to Chinese customers, and by further promoting their widespread adoption, aim to contribute toward environmental improvement.

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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

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

© 2019 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.

BYD Lands Mega Order from Los Angeles Department of Transportation

(BRK.A), (BRK.B)

New energy company BYD (Build Your Dreams) has announced that the Los Angeles Department of Transportation has ordered 130 of its battery-electric K7M buses.

The order is the largest single purchase of battery-electric buses to date in the United States.

The order is a major milestone for BYD as it continues its green dream to bring innovation and cutting-edge zero-emission technologies to forward-thinking communities and private enterprises. LADOT purchase is a signal to the market that zero-emission buses are here to stay and that their use will continue to spread.

The project fits perfectly with the City of Los Angeles’ “Green New Deal,” a set of sustainability goals that includes converting the entire LADOT fleet to zero-emission buses by 2030. The City of Los Angeles has set a bold goal of converting every city vehicle to zero-emission technology by 2050.

It is estimated the 130 buses will reduce greenhouse gas emissions by 8,225 metric tons per year and by 98,700 metric tons over the buses’ 12-year life, reducing greenhouse gas emissions by 81% compared to LADOT’s compressed natural gas buses.

“We applauded LADOT for its bold leadership, ambition, and desire to improve the air quality for the City of Los Angeles,” said BYD North America President Stella Li. “BYD buses will be an important component of the city’s efforts to meet its sustainability goals. We are proud to partner with an agency that shares our green dream.”

The buses will be built at BYD’s Coach & Bus factory in Lancaster, California. BYD’s zero-emission buses not only meet but also exceed Federal Transit Administration “Buy America” requirements, incorporating more than 70% U.S. content.

BYD is the only battery-electric bus manufacturer that has both a unionized workforce and a Community Benefits Agreement, which sets goals for hiring veterans, single parents, second chance citizens, and others facing hurdles in obtaining manufacturing employment.

The 30-foot K7M has 22 seats, a range of up to 150 miles, and can be charged in 2.5 to 3 hours. The K7M is one of BYD’s top products. It has no air emissions and runs quietly, improving quality of life wherever it operates. With lower fuel and maintenance costs, the K7M has lower total cost of ownership than diesel or CNG.

BYD notes that it offers a 12-year warranty on its batteries, the longest in the industry.

LADOT has been working with BYD since 2014 when it conducted a 90-day trial of a battery-electric bus. In January 2017, city officials introduced the first of four K9S battery-electric buses acquired by the LADOT with a grant from the California Energy Commission.

LADOT is one of more than a dozen customers who have shown their confidence in BYD’s product performance and service to make additional orders. Earlier this year, Anaheim Resort Transportation added to its initial purchase by ordering 40 more buses from BYD. With this purchase, BYD has now sold more than 460 electric buses to customers in Southern California including airports, universities, private operators and transit agencies.

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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

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

© 2019 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.

BYD Partners With AMPLY to Provide Charging Infrastructure

(BRK.A), (BRK.B)

With the high costs and operational complexities surrounding electric vehicle (EV) deployments within commercial fleets, EV manufacturer BYD (Build Your Dreams) has announced a preferred partnership with charging infrastructure provider, AMPLY Power.

The partnership allows fleet operators such as transit agencies, shuttle bus operators, universities, school districts, and municipalities to more rapidly migrate to electric vehicles through joint products and services encompassing vehicles and infrastructure.

In a 2018 survey by Greenbiz, fleet operators cited high cost and complex infrastructure as main deterrents in expanding their electric truck and bus pilots to full deployment. The two companies aim to answer these challenges by providing bundled, affordable solutions and charging infrastructure that guarantees uptime.

“Together, BYD and AMPLY Power offer a great benefit to our customers,” BYD President Stella Li said. “This partnership leads to a total and affordable solution that will help municipalities, universities and businesses achieve their climate goals.”

AMPLY provides comprehensive end-to-end services to fleet operators, including operational upgrades and utility interconnections, optimal charging strategy based on drive cycle and duty cycle, debt financing or grant funding for reducing capital expenditures, and implementing resiliency plans where needed. The company assumes the full financial responsibility of utility account and provides the fleet with flat usage rates. AMPLY also performs onsite operations and maintenance services, and invests in technology upgrades as the needs of the fleet evolve.

“If we want to accelerate electric vehicle fleet adoption, we must make it as simple as possible for commercial fleet operators,” said Vic Shao, CEO of AMPLY Power. “By establishing a relationship with BYD, we now open the door to vehicle and management options for operators, making the switch to electric even easier.”

BYD produces transit buses and motor coaches at its manufacturing plant in Lancaster, California. BYD is the only battery-electric bus manufacturer that has both a union workforce, covered by SMART Local 105, and a community benefits agreement, which prioritizes hiring of veterans, single parents, second-chance workers, and other groups that face obstacles to gaining manufacturing employment.

AMPLY and BYD have been working with joint customers since early 2019. This partnership formalizes the relationship as the two companies begin to deploy a number of electric bus customer projects, with the earliest expected to launch this year.

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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

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

© 2019 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.

BYD Pure Electric Buses Rule Chile

(BRK.A), (BRK.B)

New energy company BYD now has 183 zero-emission buses in service in Chile.

The fleet of BYD K9’s is over half of the 285 zero-emission BYD buses Chile has purchased since 2017.

The positive environmental effect is equivalent to taking some 7,695 cars off the road, eliminating 481,650 tons of CO₂ and 2,850 tons of NOₓ emissions.

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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

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

© 2019 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.

BYD to Sell Electric Yard Trucks to PepsiCo

(BRK.A), (BRK.B)

Chinese battery and vehicle maker BYD will deliver three 8Y electric yard tricks to PepsiCo.

The company’s Frito-Lay facility in Modesto, California, will test out the trucks as part of a state project designed to showcase economically and environmentally sustainable warehousing and distribution technology.

The BYD 8Y electric yard trucks are part of what the California Air Resources Board (CARB) has termed a bold and transformative effort to replace the use of all diesel-powered freight equipment within one of Frito-Lay’s largest facilities.

“We’re honored to be part of this major milestone demonstrating the operational, economic, and environmental sustainability benefits of our zero-emission trucks,” said John Gerra, BYD Director of Business Development, Electric Trucks. “BYD trucks are out there right now working hard every day throughout California.”

The San Joaquin Air Pollution Control District is the lead agency with funding from CARB’s Zero and Near-Zero Emission Freight Facilities program.

The Frito-Lay Zero and Near-Zero Emission Project: Modesto, CA is part of California Climate Investments, a statewide program that puts billions of Cap-and-Trade dollars to work reducing greenhouse gas emissions, strengthening the economy, and improving public health and the environment — particularly in disadvantaged communities.

The project includes equipment testing, a one-year demonstration period, data collection, and associated reporting. The San Joaquin APCD anticipates the various equipment to be rolled out at different times to complete the demonstration, with full project completion in early 2021.

CARB anticipates the project will be emulated statewide.

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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

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

© 2019 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.