(BRK.A), (BRK.B)
BYD Company Ltd., the Chinese battery-maker and vehicle manufacturer that is roughly 10-percent owned by Berkshire Hathaway, is increasing its electric vehicle foothold in Australia.
BYD has become the first Chinese electric vehicle manufacturer to be certified by the Australian Design Rules (ADRs), the country’s stringent technical standards for emissions, vehicle safety and theft resistance.
The company is already in the Australian market, with its pure electric buses in a shuttle service tested for Sidney Airport between December 2014 and May 2015.
It has also sold its pure electric forklift in Sydney and Melbourne.
BYD’s big vehicle news is the introduction of its e6 pure electric crossover for use as taxi.
According to BYD, with the ADRs certification, the BYD e6 taxi got the green light to access the Australian market, meaning that the company’s global electrified public transportation platform now extends to yet another major market.
7+4 Strategy
BYD’s comprehensive “7+4” electrification strategy in the Australia region aims at electrification of all forms of ground transportation: urban bus, coach, taxi, passenger car, urban logistics trucks, construction trucks, and urban sanitation trucks (7), as well as vehicles for warehousing, mining, airports and ports (4).
The company now gets one step closer to fulfilling its lofty electrification plans in a country that prizes sustainable development.
Currently, the BYD e6 and K9 global footprint is present in over 190 cities in 43 countries in all continents.
BYD and Berkshire Hathaway
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares, and today owns roughly 9.1% of the company.
For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.
© 2016 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.