(BRK.A), (BRK.B)
The city of Guayaquil, Ecuador may soon have the honor of being the first in the world to have an all-electric mass transit system.
The port city, which is known as “the Gateway to the Galapagos,” is swapping its entire fleet of diesel transit buses for pure-electric buses.
The move comes after a five month pilot program proved the viability of the buses. The test bus ran an average of 250 kilometers per day.
BYD’s K9 buses feature air conditioning and Wi-Fi, and will have a dramatic impact on air pollution and fuel costs.
The buses are projected to reduce 12.8 tons of CO2 and 2.9 million gallons of diesel annually.
The buses are scheduled to be in service by March 2019.
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.