(BRK.A), (BRK.B)
BYD (Build Your Dreams) is celebrating its 400th bus built at its Lancaster, Calif. manufacturing plant.
The 400th bus is a 60-foot articulated K11M model transit bus built for Los Angeles World Airports (LAWA), part of a 20-bus order. The buses will be used to provide transportation for guests traveling between terminals and gates on the Los Angeles International Airport’s airfields.
“The 400th American bus is another great milestone for our Lancaster team,” said BYD North America President Stella Li. “Since delivery of our first American battery-electric bus from Lancaster in 2014, BYD has provided buses to customers in 14 states and four Canadian provinces. We are passionate about our mission to create a cleaner environment here in North America and across the globe.”
In just six years, BYD has grown to become the largest battery electric bus manufacturer in North America, with more than 750 employees. The company has expanded its Lancaster manufacturing plant, a former motorhome manufacturing facility, from 100,000 square feet to over a half million square feet.
In all, BYD has invested more than $250 million in North America, and in 2018 alone, has spent $70 million on components and services from American vendors.
From one bus model under production in 2014, BYD’s product line now includes transit bus models ranging from the 30-foot K7 to the 60-foot K11, and coach models ranging from 23-foot C6 to the double-deck, 45-foot C10MS.
BYD now has more than 50 municipal, transit agency, university, airport, federal and other commercial and private-sector bus customers, including the Los Angeles Department of Transportation, Antelope Valley Transit Authority, Denver RTD, Kansas City International Airport, and Solano County Transit.
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.