(BRK.A), (BRK.B)
Berkshire Hathaway-backed Chinese battery and vehicle manufacturer BYD Co., Ltd. has announced that the first BYD pure-electric eCoach is running in Paris, France.
The City of Paris has introduced a Low Emission Zone (LEZ) to restrict greenhouse gas emissions in the French capital, and rhe LEZ will include the area’s first pure electric coach from BYD.
Manufactured at BYD France’s production facility in Beauvais in the Oise region, the pure-electric, zero-emission 13-metre coach has a 59-seat capacity and will be put into service in the coming days. The electric coach boasts an average single-charge range of 200 kilometres and can be recharged in a few hours. The vehicle will provide the same services as a diesel coach for school, extracurricular activities and occasional transport services for citizens generally.
The introduction of the BYD electric coach forms part of Île-de-France’s plan to protect the environment and to promote the use of the cleanest vehicles. The aim is also to deliver a rapid impact on improving air quality and so limit the local population’s exposure to pollution.
BYD ‘eCoach’ Passengers from the City of Drancy will be able to move around Paris with complete peace-of-mind and without contributing to CO2 emissions. The vehicle will provide access to an ever-increasing number of cultural and sporting activities for the people of Drancy: young people, old people, sportsmen and women and associations.
Mrs Lagarde, Mayor of Drancy, said, “The City of Drancy already has a significant number of clean cars – 95% electric. In order to continue our commitment to a more ecological transport infrastructure, and to continue to provide a transport service to the people of Drancy while respecting the environment, we wanted to invest in a high-performance electric coach. Our new BYD electric coach has sufficient autonomy for our needs and has accessibility for wheelchair users, too.”
Mrs Lagarde added, “I would like to thank our partners who helped to cover half of the cost of this investment, the Seine-Saint-Denis Prefecture in support of public investment with €100,000, but also La Métropole du Grand Paris, where Jean-Christophe Lagarde is based to represent the interests of our city, and which gave us a subsidy of €129,000.”
Mr Lagarde, Member of Parliament and Metropolitan Councillor, said, “The Greater Paris Metropolis and the City of Drancy are working together to improve air quality and to make sure that our citizens are not exposed to pollution. The LEZ is the tool to promote the use of the least polluting vehicles. The Greater Paris Metropolis encourages and helps families to change their vehicles for less polluting modes of transport. Our cities must set an example.”
Mr Isbrand Ho, Managing Director, BYD Europe added, “We are proud that our pure electric and zero-emission coach will be contributing to improving the quality of life for passengers – particularly the children – in Drancy and, more broadly, in Greater Paris. In the coming weeks, other municipalities in the Ile-de-France region will receive their first BYD electric coaches so that, along with the pioneering town of Drancy, they can continue to take their school and extra-curricular outings in the city of Paris.”
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 more than twenty-fold.
© 2020 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a 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.