(BRK.A), (BRK.B)
New energy technology company BYD has been named one of the year’s Most Innovative Companies by Fast Company for the fifth time since 2009.
This year, Fast Company is honoring BYD as one of its Top 10 Most Innovative Companies in Energy.
BYD was selected from a list of fifteen hundred companies.
The Fast Company accolade continues a legacy of recognition for the most-awarded electric bus manufacturer in the world. BYD has now been honored more than a dozen times by international media outlets, government agencies, nonprofits and trade associations for its work in clean air, energy, transportation and technological innovation.
“At BYD, we never stop working to transform the world. We strive to create innovative ways to power and move the world with safe and sustainable technology,” says Stella Li, President of BYD North America. “We are honored to be recognized for our contribution worldwide.”
In addition to being a global leader in rechargeable-battery manufacturing, BYD is the world’s largest manufacturer of battery-electric vehicles for the third year in a row. BYD is also the largest manufacturer of battery-electric buses in North America.
All of these industries are built on BYD’s proprietary Iron-Phosphate battery -— a fire-safe, completely recyclable and incredibly long- cycle technology.
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.