(BRK.A), (BRK.B)
China’s BYD Company., the Shenzhen-based new energy technology company was the highest selling manufacturer of new energy vehicles in 2016 for the second consecutive year.
According to figures compiled by EV Sales, a website that tracks the global market for new energy vehicles, BYD’s global sales of 100183 units represented a 70 percent increase from the previous year.
BYD Tang a powerful hybrid electric SUV first unveiled at the Beijing Motor Show in 2014 was the third best -selling model around the world, followed by the BYD Qin and BYD e6 which clinched the ninth and 10th place respectively.
“These results are very encouraging for us as we have invested heavily in researching and developing new energy technology for cars, buses and monorails among others,” said BYD’s Li Yunfei, Deputy General Manager of Branding and PR Division. “We believe new energy is one way we can deal with climate change and that is why we want to use our ‘Cool the Earth by 1 Degree’ campaign to increase public awareness of climate change and the many ways renewable energy can be generated, stored and used.”
Data tallied by EV Sales shows Chinese manufacturers of new energy vehicles are making advancements overseas while continuing to grow in-country.
Separately BYD was also ranked by China’s Highway and Transportation Society as last year’s top provider of electric buses that are longer than 10 meters.
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 $1.77 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.