(BRK.A), (BRK.B)
Chinese battery and vehicle maker BYD has sold an additional 183 electric buses to Santiago, Chile.
The Chilean Minister of Transportation and Telecommunications, Gloria Hutt, recently announced the new order, which is due to arrive in August.
The 183 BYD electric buses will join an existing fleet of 100 BYD electric buses that started service in December 2018. The buses are operated by Metbus.
With the new delivery, Santiago will become the largest operator of electric buses outside of China, with some 411 buses in service.
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.
© 2019 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.