Berkshire Hathaway-Backed BYD Offers Federal Grant Application Help to Transit Systems

(BRK.A), (BRK.B)

Berkshire Hathaway-backed BYD is offering help to transit systems in accessing the Low or No Emission (Low-No) Program.

The Federal Transit Administration recently announced $180 million will be available through its competitive Low or No Emission (Low-No) Program.

The Low-No program exists to support the nation’s transition to energy-efficient vehicles such as those manufactured in BYD’s Lancaster, California plant. And Low-No funding can be used to purchase and/or lease BYD’s full line of zero-emission transit buses, including acquisition, construction, and leasing of supporting charging facilities.

“We’re proud to have helped secure over $10 million for our customers through last year’s Low-No grant program,” said BYD North America Senior Vice President Patrick Duan. “Having experts with a successful track record to assist transit agencies can make all the difference with these competitive grants.”

BYD can provide various electric bus models, infrastructure, and technology to help communities transition to zero-emission buses.

BYD bus and motor coach models meet all Buy America and FMVSS Rolling Stock requirements. BYD’s bus and motor coach models range from 23 feet to 60 feet in length including our two double-decker options.

BYD and Berkshire Hathaway

In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares for $232 million. It’s an investment that has paid off handsomely. Berkshire’s original investment of $232 million has grown in value to $5.897 billion as of December 31, 2020.

© 2021 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a 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.

Leave a Reply