BRK.A), (BRK.B)
BYD has sold Swedish freight technology company Einride some 200 Class 8 8TT battery-electric day cab trucks for deployment across the United States. The sale is the largest-ever order of its kind outside of Asia.
BYD will begin delivery of the first vehicles, all assembled in Lancaster, California, in February, with all 200 vehicles set to be delivered in waves over the course of the coming twelve months. Einride will utilize the vehicles to grow their global fleet of connected electric vehicles to serve their U.S. customers throughout key transport regions. Saga, Einride’s technology platform that plays the critical role in ensuring electric shipping is efficient and optimized, will power the full fleet of signed BYD vehicles.
“This historic order will give customers an up-close look at Einride’s industry-transforming intelligent operating system and our safe and reliable zero-emission battery electric trucks.” said Patrick Duan, Senior Vice President, BYD North America. “BYD Class 8 electric trucks showcase a strong combination of cutting-edge high tech and durability providing customers with the performance they desire while setting a new gold standard for driver comfort and safety.”
“As we continue to expand our U.S. operations and provide our end-to-end shipping solution at scale, having an OEM partner that is able to collaborate with us in delivering best-in-class electric vehicles is imperative,” said Niklas Reinedahl, General Manager North America at Einride. “This fleet of vehicles, which will be delivered at an industry leading pace and volume, will allow us to efficiently provide electric, cost-competitive and emissions-free transportation to our customers.”
The majority of the vehicles will be BYD’s 3rd Generation extend range 8TTs, which feature a cab styled by Wolfgang Josef Egger, the renown former Audi chief designer. The stylish air-ride cabs offer improved aerodynamics and energy efficiency alongside a spacious and ergonomic interior. The trucks come standard with Advanced Driver-Assistance Systems (ADAS), which includes Automatic Emergency Braking, Adaptive Cruise Control, Lane Departure Warning System and Blind Spot Detection, making driving easier and safer.
The new 8TT Integrates all of the lessons learned from our first- and second-generation vehicles to improve the comfort, effectiveness and robustness of our design.
The trucks are equipped with 563 kWh ultra-safe and reliable iron phosphate battery packs, an Electronic Parking Brake system, keyless entry and push-to-start functions, and will have up to 185kW CCS1 charging capability. The extended range 8TT offers a working range of 200 miles per charge.
The 8TT is a versatile vehicle, capable of performing drayage, regional haul, and distribution work.
BYD battery-electric trucks’ operation is clean, dependable and quiet, and have significantly fewer moving parts than trucks that rely on internal combustion engines.
BYD, the world’s largest manufacturer of electric vehicles, is the leader in battery-electric truck deployments with more than 10,000 trucks in service around the world and over 200 that are hard at work in the United States. BYD battery-electric trucks are deployed across America, from the ports of Los Angeles, Long Beach and Oakland in California to refuse collection services, distribution efforts and port terminal operators on the East Coast.
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 had grown in value to $7.69 billion as of December 31, 2021.
© 2022 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.