(BRK.A), (BRK.B)
Chinese battery and vehicle maker BYD has debuted its first three pure electric buses in St. Albert, Canada.
The buses are the first electric buses BYD has sold in Canada, and the three BYD K9 buses are the first of seven electric buses for the city.
The order represents a conversion of a full 10% of the city’s bus fleet to electric, which will be fulfilled by the end of the year and shows its commitment to migrating its fleet to next-generation fuels.
Of particular note is the performance of the buses in cold weather. The buses are hardy enough to perform in extreme cold weather that can drop down to -35°C in the winter.
The city of Edmonton has also tested BYD’s buses and found that two of BYD’s K9 electric buses tested against two brand new diesel buses were more reliable in the extreme cold temperatures than the diesel buses.
The buses cost $970,000 Canadian dollars each, and are part of the province’s Green Transit Incentives Program, which supports new and existing public transport infrastructure technology. The project’s ultimate aim is to reduce the number of vehicles on the province’s roads and lower greenhouse gases.
BYD Canada Vice President Ted Dowling said the introduction of the 10.6 meter long battery powered buses were exciting. “Many more Canadian cities and provinces will be under pressure to buy electric buses soon because they cannot be led by the oil province.” Alberta has the world’s third largest oil reserves.
Provincial and federal politicians in Canada have actively promoted green transport solutions in the country as part of the country’s commitment to mitigating climate change.
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.