China’s BYD Company has been officially selected as the recommended company by the evaluation committee in Argentina for the purchase of 50 electric buses on behalf of the Ministry of Environment.
The tender was launched by the Ministry of Environment as a pilot project for the introduction of electric public transport in different cities throughout the country.
The bid evaluation committee chose BYD amongst a pool of 5 bidders for its successful 12-meter electric bus, which is already widely used in cities such as London, Los Angeles, and Amsterdam.
BYD begun the promotion of its technologies in Argentina in 2011 through its local subsidiary, especially those related to electric vehicles and public transport. In November 2011, the company signed its first MOU with the Ministry of Industry and the Secretary of Transport.
During BYD’s senior-level management visit to the country in May 2016, Argentinian President Mauricio Macri and Minister of Environment Sergio Bergman expressed their high expectations for the introduction of BYD technologies and electric vehicle models to their nation’s public transportation systems.
BYD expects to receive the necessary allocation within the next few weeks.
To better satisfy market demands, BYD plans to build a new local manufacturing plant in Argentina. This plant would bring foreign investment to Argentina, and will have a significant impact in the creation of new jobs.
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.
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.
Turin will be the first city in Italy to deploy BYD Company’s pure electric buses.
The Chinese battery and vehicle-maker also recently announced its buses will be purchased by transit systems in Iran and Korea.
The city of Turin is purchasing 19 BYD ebuses delivering zero emission transport on city streets.
BYD won the country’s first big tender for 12 metre pure electric buses which was awarded on September 23, 216. The contract has a total value of over €10 million.
The tender is for long range, full size buses to operate on Piedmont Region’s urban transport networks.
BYD will supply a fleet of 12m ebuses together with the provision of full service support for 10 years. The buses use BYD’s Iron Phosphate (or “Fe”) Battery.
BYD ebuses will begin serving the major cities of Piedmont in summer 2017, and the ebuses will connect the city centers with suburban areas.
“Thanks to the vision of GTT to make Turin green this order ensures that Italy, together with the UK and France, is a top market for BYD in Europe”, said Isbrand Ho, Managing Director of BYD Europe. “We have consistently said that we would have ‘lift off’ in Europe when our order book exceeded 100 ebuses. These Italian orders bring the current total to over 100 units: we have truly arrived. What a way to end the year!”
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.
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.
The Board of Directors of The Coca-Cola Company have announced that Howard G. Buffett, 61, will not stand for re-election to the Board at the Company’s Annual Meeting of Shareowners in April 2017.
The move comes as Coca-Cola Company announced that its Board of Directors has approved unanimously the recommendation of Chairman and Chief Executive Officer Muhtar Kent for changes to the company’s senior leadership structure. Under the new structure, company veteran James Quincey, President and Chief Operating Officer, will succeed Kent as CEO, effective May 1, 2017. Kent will continue as Chairman of the Board of Directors.
According to a statement issued by Coca-Cola, Buffett has chosen to retire from the Board to focus more time on his work as Chairman and CEO of the Howard G. Buffett Foundation, which focuses on advancing sustainable agricultural practices and conflict mitigation throughout the world.
“I’ve enjoyed my more than 17 years of combined service to the boards of Coca-Cola Enterprises and The Coca-Cola Company and have the utmost respect and admiration for the work the Company is doing to sustainably grow its business around the world,” Buffett said. “Under the long-time leadership of Chairman and CEO Muhtar Kent, joined recently by President and COO James Quincey, the Company has exciting plans for the future and is poised to deliver even greater value to its many stakeholders in the years to come.”
Buffett joined The Coca-Cola Company’s Board of Directors in December 2010 and has served as a member of the Public Issues and Diversity Review Committee since 2011. From 1993-2004 he served as a director on the Board of Coca-Cola Enterprises, Inc., which at the time was the largest bottler of Coca-Cola beverages in North America and Western Europe.
In addition to his role with the Howard G. Buffett Foundation, Buffett serves as President of Buffett Farms, a commercial farming operation in Nebraska, and, since 1993, has served as a director of Berkshire Hathaway Inc. From 1995 to January 2016, Buffett also served as a director of Lindsay Corporation.
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.
Chinese renewable energy technology leader BYD Company has become the first company to supply pure electric vehicles to Iran.
BYD’s strategic partnership with the country’s largest private passenger car manufacturer Kerman khodro will also see the Shenzhen-based company export other leading technological products to Iran including hybrid vehicles, electric commercial vehicles and rechargeable batteries.
“Our partnership with Karmania is an important step in expanding our Middle East operations,” said AD Huang, General Manager of BYD’s Middle East and Africa Auto Sales Division. “Iran’s new energy vehicle market has vast potential because the government of Iran has the foresight of sustainable development. We endeavor to use our excellent technology to provide quality products and service to the people of Iran.”
“We are very positive about the future of new energy vehicles in Iran because of BYD’s mature technology, the scale of its production and operational success,” said Karmania CEO Pooya Salari Sharif. Karmania is a subsidiary of Kerman that specially for BYD.
BYD’s commercial initiatives in the Middle East and Africa presently include energy storage, new energy vehicles and solar power generation.
According to a statement by BYD, Iran is just one of several Middle Eastern countries responding to climate change concerns through various environmentally friendly policies such as tax breaks for new energy vehicles. These initiatives also assist nations in reducing their dependence on fossil fuel.
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.
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.
BYD Korea Co. Ltd., along with South Korean firm Ezwelfare Co. Ltd, has sold 21 units of its 7m pure electric coaches to Jeju Island, a popular South Korean vacation spot.
The deal is the largest order ever placed by South Korea for electric buses and the largest ever won by an electric coach manufacturer in the developed countries in East Asia.
The local government of Jeju Island aims to make all vehicles electric by 2030 as a way of protecting the environment, which is its main drawing card for the tourism sector on which it depends.
The province also plans to complete an extensive network of charging stations as part of the initiative.
The local government’s landmark deal with BYD is a step towards realizing its vision.
“Jeju Island’s ambition to become carbon neutral by 2030 is in line with BYD’s aims of full transport electrification,” said Liu Xueliang, General Manager of BYD’s Asia Pacific Auto Sales Division. “We are honored to introduce BYD electric vehicles to South Korean market along with the BYD SkyRail, our straddle monorail. These will enable residents of both Jeju Island and the rest of South Korea to reap the benefits of new energy products.”
The deal comes just weeks before BYD’s 12m pure electric bus make their commercial debut in South Korea after being used as an official vehicle at the 3rd International Electric Vehicle Expo in March 2016. The delivery of the 12m electric bus will add to the list of BYD electric vehicles already in the market including forklifts.
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.
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.
BYD Company is ready to spread its SkyRail monorail system across the globe, and S. Korea looks like the first market for its new mass transportation system.
Things are happening quickly. On October 13, 2016, debuted its SkyRail monorail system in Shenzhen, China. The monorail was developed out of BYD’s five-year RMB 5 billion R&D project.
BYD’s initial 4.4 kilometer monorail line runs to its Shenzhen Headquarters, alleviates the traffic problems of 50,000 factory and management employees.
Strategically, SkyRail marks the company’s entry into the multi-trillion yuan mass transit market. BYD believes its monorails can counter traffic congestion in cities around the world while also offering more convenient mobility to urban residents.
Now, it looks like BYD’s SkyRail will be heading to S. Korea.
While commenting on the sale of 21 units of BYD’s 7m pure electric buses to Jeju Island, a popular South Korean vacation spot, Liu Xueliang, General Manager of BYD’s Asia Pacific Auto Sales Division, also mentioned SkyRail.
“We are honored to introduce BYD electric vehicles to South Korean market along with the BYD SkyRail, our straddle monorail. These will enable residents of both Jeju Island and the rest of South Korea to reap the benefits of new energy products.”
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.
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.
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.
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.
BYD Company – the Chinese battery and vehicle manufacturer – will supply a fleet of 11 battery electric buses to the city of Cape Town, South Africa.
The City of Cape Town has awarded the tender for the procurement of
battery-powered electric buses and ancillary equipment for the MyCiTi
service to BYD SA Company.
Cape Town aims to become the first city on the African continent to
use electric buses for public transport. The city’s transport
administration will initially use the easy access 12-metre-long buses
as an express service on a 35 to 40-kilometre route between the city’s
central business district and the Metro South East region.
The administration plans to subsequently reassign the buses to Cape
Town’s Bus Rapid Transit (BRT) system following completion of
supporting infrastructure.
“Electric buses generate less noise than those with traditional diesel
engines and provide a smoother ride for passengers and bus drivers,”
said AD Huang, General Manager of BYD Middle East and Africa Auto
Sales Division. “These clean-running buses will help provide Cape
Town’s residents with a more sustainable public transport system while
assisting the country in achieving its environmental ideals.”
Huang added, “Cape Town’s deployment of electric buses is the first
showcase of a clean and sustainable transport system in Africa, the
success of this project will encourage other African cities to develop
their own green public transport projects.”
Cape Town aims to reduce carbon emissions through a range of policies
that affect households, businesses, the city’s transport system and
electricity generation. Its “Energy 2040 Strategy” outlines a plan to
increase transport efficiency so that carbon emissions targets are
reduced by 3.2 percent by 2020. Transport accounts for 34 percent of
carbon output in this city of 3.8 million people.
“BYD could potentially supply five more single deck electric buses and
five additional double decker electric buses, depending on the city
government’s approval,” AD Huang said. “We look forward to continuing
our contribution to the development of South Africa’s renewable energy
scene.”
BYD’s battery electric bus employs many advanced technologies
developed in-house by a staff of more than 16,000 R&D engineers,
including the BYD iron-phosphate battery that can sustain more than
80% of capacity even after 4,000 cycles. Combined with BYD’s
proprietary in-wheel hub motors and regenerative braking system, the
BYD “ebus” offers the lowest life cycle cost of ownership compared to
conventional diesel buses.
The BYD ebus delivers a host of operational and environmental benefits
for public transit riders, bus operators and residents of the
community, including a quiet and comfortable ride without vibrations,
jerks, or the noise associated with the conventional buses and
combustion engines. The bus can also drive for more than 250
kilometers – even in heavy city traffic – on a single charge.
As of July 2016, BYD bus fleets have completed more than 191 million
kilometers “in revenue service” and have been evaluated by more than
170 cities in 38 countries and regions around the world. To date, BYD
has built over 10,000 electric buses globally.
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.
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.
BYD Company has debuted its “SkyRail” monorail system in Shenzhen, China. The monorail was developed out of BYD’s five-year RMB 5 billion R&D project.
SkyRail marks the company’s entry into the multi-trillion yuan mass transit market.
SkyRail is billed as a strategic solution introduced by BYD to counter traffic congestion in cities around the world while also offering more convenient mobility to urban residents.
BYD’s 4.4 kilometer monorail line, which runs to its Shenzhen Headquarters, alleviates the traffic problems of 50,000 factory and management employees.
As a transportation solution, BYD’s SkyRail is designed to complement existing metro and bus systems to help create a layered transport network consisting of underground, roadway and elevated elements. It will become an integral part of optimized urban transport.
“Mass transit systems are an indispensable solution to alleviate traffic congestion in cities,” said BYD President and Chairman Wang Chuanfu at the launch ceremony. “As a rail transport option with relatively smaller passenger capacity, ‘SkyRail’ can complement existing public transport systems to create a layered transport system encompassing underground, roadway and elevated elements. At the same time, SkyRail provides urban residents with safe, comfortable and fast mobility while making a real difference to alleviate traffic congestion. BYD is the first privately run Chinese company to enter the mass transit market.”
SkyRail represents another strategic expansion of BYD, a pioneer in the field of integrated new energy solutions, building on its core industry expertise in battery, automobile and ECU. Today, BYD spans the IT, automobile, new energy and mass transit sectors and has developed a green portfolio encompassing solar, energy storage, EV and rail transit. BYD is well positioned to improve the daily lives of people through its innovations and technologies.
Named one of “China’s Most Admired Companies” by Fortune China in 2016, BYD has been committed to driving forward green mobility to help address the mega challenge and public concern of traffic congestion.
In 2010, the company announced its “electric public transport” strategy for green mobility, focusing on low-carbon electric vehicles as a prioritized public transport option to reduce traffic-related emissions in cities. This has now become a national strategy of China. At present, BYD’s electric vehicles are on the road in more than 200 cities in 48 countries and regions around the world.
To help address the challenges of urban transport, BYD set up a large R&D team consisting of more than 1,000 people. As the result of a RMB 5 billion (around 757 million USD) investment over the past five years, BYD successfully developed SkyRail, in an effort to provide a new solution to alleviating traffic congestion in cities and empowering layered mobility.
Traffic congestion is a major global issue. Urban residents in countries such as China, India, Indonesia and Brazil are increasingly concerned about congestion despite an increase in roads. There is high demand around the world for congestion alleviation solutions. To address this challenge, it is essential to relieve pressure on the road by moving some of the traffic to underground and elevated spaces. Therefore, it is inevitable that the development of layered rail transport is essential to transforming “cities on wheels” to “cities on rails.”
As a mass transit alternative with relatively smaller passenger capacity, BYD’s SkyRail delivers numerous benefits, including: capital expenditure 80% lower than metro, construction period two-thirds shorter than metro, excellent topographic adaptability due to higher climbing ability and smaller turning radius, reduced noise to allow travel through architectural complexes, visual integration into the cityscape thanks to transparent bridges and independent right of way, flexible management to allow for capacity between 10,000 to 30,000 passengers an hour (each way) and a high speed of up to 80km/h. It is very applicable to small and medium sized cities, heavy traffic routes, CBD’s and routes connecting tourist attractions in large cities.
Dramatic Cost Savings Compared to Subways
The electric monorail is a kind of traffic network which interconnects multiple transit backbones in the city at one sixth of the cost of a subway system.
According to BYD, the total market for monorails just in China is in the range of 3 trillion yuan ($450 billion).
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.
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.
BYD, the fast growing supplier of pure electric buses to cities across Europe, has announced a €20 million investment in a bus assembly plant in the northern Hungarian city of Komárom.
The plant which will eventually employ up to 300 people and be capable of assembling up to 400 vehicles a year on two shifts. Initial output will be BYD’s world beating range of emissions free electric buses and fork lift trucks but the Hungarian subsidiary’s name – BYD Electric Bus & Truck Hungary Kft – hints at other ambitions.
The Hungarian plant will begin production in the first quarter of 2017. It will have its own R&D center and battery test facility.
Speaking at a ceremony at the Hungarian Ministry of Foreign Affairs and Trade in Budapest, Isbrand Ho, BYD Europe’s Managing Director, said: “Today’s announcement reinforces our company’s commitment to the European market. This is our first manufacturing facility but it won’t be our last – we are actively looking for other locations”.
He added: “We chose Hungary both because of its central location in Europe and its long tradition of engineering excellence and indeed bus making, as well as the very friendly welcome we have received from the authorities here”.
Mr. Peter Szijjártó, Minister of Foreign Affairs and Trade in Hungary welcomed BYD and pointed out Komárom is the only manufacturing plant outside China besides California and Brazil. He highlighted the fact that BYD was not just building a manufacturing plant but also opening a battery testing unit and R&D center.
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.
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.