(BRK.A), (BRK.B)
BYD, the largest battery-electric bus manufacturer in North America and the largest electric vehicle company in the world, today announced a new order that will see three American-made BYD K9S electric buses deployed in Baton Rouge, Louisiana, under the authority of the Capital Area Transit System (CATS) later this year. The purchase of these new buses reflects BYD’s continued dominance of the North American battery-electric bus market as well as the continuing growth of the sector across the continent.
“In every corner of the continent, we are witnessing rapid growth in the electrification of bus fleets,” stated Macy Neshati, BYD Senior Vice President. “Whether you are looking at the hot and humid climates of the Deep South, the wet weather of the Northwest or the frigid climates of the North, BYD buses are workhorses that can handle any condition.”
With a range of approximately 150 miles on a single charge and a capacity of up to 32 passengers, depending on configuration, the K9S is ideally suited for the needs of Baton Rouge. BYD buses are projected to cost roughly $1.00 less per mile to operate than the typical diesel-powered bus. The new buses produce zero emissions and make oil changes a thing of the past. The proprietary BYD Iron-Phosphate battery is nontoxic, 100% recyclable, fire-safe and incredibly long-cycled. In fact, BYD is the first and only electric bus manufacturer to offer a full 12-year warranty on batteries.
We are excited to incorporate electric buses into our planned Bus Rapid Transit projects in Baton Rouge,” said Bill Deville, CATS CEO. “These buses will allow us to see how we can use electric buses to reduce the impact of our fleet on our environment and also control costs.”
CATS provides bus service to residents of and visitors to Baton Rouge, Louisiana. They operate 29 bus lines and provides more than 2 million rides each year. To CATS leaders, the new buses constitute an important opportunity to innovate.
“Electric buses are a big step forward for CATS. They represent a chance to pilot new technology in Baton Rouge, and we are very excited about that,” said Jim Brandt, President of the CATS Board of Commissioners.
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.