(BRK.A), (BRK.B)
BYD has announced that the Chattanooga Regional Transportation Authority (CARTA) has taken delivery of their first three BYD K9 electric buses this week.
“We’re excited about receiving all three vehicles, and getting them out on the streets and tested,” said Lisa Maragnano, CARTA Executive Director. “We’re pleased about the enhanced service CARTA will to provide to the City of Chattanooga and Hamilton County through our partnership with BYD and Momentum Dynamics. Our new electric buses charge fast, efficiently and run emissions free all day. We look forward to the expansion of our electric vehicle fleet.”
As an early adopter of electric vehicle technology, CARTA has paved the way for a cleaner, smarter and more sustainable future in the transportation industry.
Earlier this year they received a “Smart City” award for their innovative electric vehicle charging and car share project. The integration of more electric buses will help CARTA achieve their goal of having a zero-emissions fleet.
Chattanooga is aggressively pursuing non-traditional transportation planning and infrastructure.
Momentum Dynamics developed a 200-kilowatt wireless charging system to support zero-emission transit buses in Chattanooga. The system automatically charges as passengers load and unload.
“We thrilled to partner with such a forward-thinking transit agency as CARTA. We believe our zero-emission buses are a perfect fit for their plans to use clean technology vehicles to serve their customers and help keep their region’s air clean,” said Bobby Hill, Vice President of BYD North America, Coach and Bus.
BYD North America also recently announced its joint venture with Generate Capital, Inc., a leading financier, owner, and operator of distributed infrastructure, to launch the first electric bus leasing program of its kind in the United States. The firm is also the first electric bus manufacturer with a unionized workforce at its cutting-edge facility of more than 800 employees in Lancaster, California.
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 has grown in value almost ten-fold, and is now worth roughly $1.96 billion.
For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.
© 2018 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.