(BRK.A), (BRK.B)
Los Angeles mayor Eric Garcetti has announced that the Los Angeles Department of Transportation (LADOT) placed the largest single order for electric buses in U.S. history.
The order is for 134 BYD electric buses to be manufactured at BYD’s plant in Lancaster, California.
“The clean transportation revolution is not a distant dream — it’s happening on L.A.’s streets right now,” said Los Angeles Mayor Eric Garcetti, who spoke to dozens of LA reporters and city workers after quietly arriving at the Department of Transportation in a 30-foot battery-electric BYD K7M.
“Seeing these zero-emission buses rolling down our roads in the years ahead will bring us one step closer to realizing our vision of cleaner air, lower emissions, healthier communities, and a more sustainable future for all Angelenos,” Garcetti said as he stood in front of two of the four BYD buses that have already been delivered to the city. In all, Los Angeles will have 134 BYD buses, Garcetti said.
The record-breaking order helps advance the core goals of Mayor Garcetti’s recently signed Executive Directive — “L.A.’s Green New Deal: Leading By Example” — which includes measures to make LADOT’s bus fleet entirely emissions-free in time for the opening ceremonies of the 2028 Olympic and Paralympic Games.
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.
© 2020 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.