(BRK.A), (BRK.B)
BYD, the world’s largest electric vehicle company, has delivered the first battery-electric 8TT truck to the Port of Oakland.
The Class 8 truck was grant-funded by CARB and will be part of a three-year feasibility study to determine whether zero-emission trucks could replace diesel trucks.
The truck will be tested for short-haul operations by major California trucking operator, GSC Logistics, and used to shuttle cargo containers between their depot and Oakland marine terminals. As the largest motor carrier at the port, GSC hauls 120,000 containers of cargo across Northern California and Nevada annually. GSC manages 200 owner-operated trucks each day and currently operate five short-haul company trucks.
“BYD is proud to celebrate the deployment of our 8TT truck in partnership with CARB and GSC Logistics to prove that clean battery-electric transportation is reliable, sustainable and readily available for the drayage industry,” said BYD Motors President Stella Li.
By utilizing battery-electric trucks, companies like GSC can lower operating costs while significantly improving air quality through the elimination of pollution caused by diesel trucks. In addition to the cost savings andenvironmental and health benefits that come from converting to clean battery-electric technology, there are a number of other benefits such as reduced noise levels along busy trucking routes.
“We are eager to put this truck to the test and be part of an initiative that will not only help us save money, but positively impact the environment and change the future of transportation for years to come,” Said Brandon Taylor, Director of Transportation at GSC Logistics.
The Port of Oakland has already significantly reduced diesel pollution through clean truck programs. As they update their Maritime Air Quality Improvement Plan, zero-emissions technology will be emphasized.
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.
© 2018 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.