(BRK.A), (BRK.B)
BYD Company – the Chinese battery and vehicle manufacturer – has signed an agreement to introduce Macao’s first pure electric buses through local tourism operator Ocean View Tour and Travel Agency.
Motor vehicle carbon emission is a major source of air pollution in Macao, a tiny city that experienced a 73 percent increase in the number of motor vehicles between 1999 and 2010.
According to figures by the Macao Special Administrative Region government, electric buses will produce 56 percent less carbon dioxide and 60 percent less nitrogen oxide for every hundred kilometers traveled compared to diesel buses.
The Macao SAR government has taken measures to improve the local living environment since 2011.
“Macao is a tourist destination with millions of visitors every year. Our electric buses are well built to navigate the city’s meandering roads and steep slopes,” said Liu Xueliang, General Manager of BYD’s Asia Pacific Sales Division. “The introduction of pure electric vehicles demonstrates our joint commitment to environmental protection while boosting the image of Macao as an international city.”
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.
© 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.