(BRK.A), (BRK.B)
Just weeks after new energy company BYD announced it is in talks to build one of its monrails in Egypt, the company is looking to do the same in the Philippines.
BYD and the city of Iloilo are currently exploring the possibility of constructing a 20-kilometre SkyRail monorail by 2019.
“Air pollution and traffic congestion are twin problems many cities around the world are faced with,” said Liu Xueliang, General Manager for BYD Asia Pacific Auto Sales Division. “We are very excited to bring more of our solutions to the Philippines to create a cleaner living environment for everyone.”
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 is now worth roughly $1.8 billion.
For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.
© 2017 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.