Berkshire Hathaway-backed BYD is offering help to transit systems in accessing the Low or No Emission (Low-No) Program.
The Federal Transit Administration recently announced $180 million will be available through its competitive Low or No Emission (Low-No) Program.
The Low-No program exists to support the nation’s transition to energy-efficient vehicles such as those manufactured in BYD’s Lancaster, California plant. And Low-No funding can be used to purchase and/or lease BYD’s full line of zero-emission transit buses, including acquisition, construction, and leasing of supporting charging facilities.
“We’re proud to have helped secure over $10 million for our customers through last year’s Low-No grant program,” said BYD North America Senior Vice President Patrick Duan. “Having experts with a successful track record to assist transit agencies can make all the difference with these competitive grants.”
BYD can provide various electric bus models, infrastructure, and technology to help communities transition to zero-emission buses.
BYD bus and motor coach models meet all Buy America and FMVSS Rolling Stock requirements. BYD’s bus and motor coach models range from 23 feet to 60 feet in length including our two double-decker options.
BYD and Berkshire Hathaway
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares for $232 million. It’s an investment that has paid off handsomely. Berkshire’s original investment of $232 million has grown in value to $5.897 billion as of December 31, 2020.
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.
New Mexico officials have chosen Berkshire Hathaway-backed BYD Co. to participate in a statewide purchase agreement that gives transit agencies throughout New Mexico and the United States the ability to buy American-made BYD coaches and buses.
The vehicles, which comply with strict Buy America standards, are manufactured in ISO 9001-certified American factory, guaranteeing quality, safety, and efficiency in every aspect of design, production, and customer care.
“This contract is a big win for transit agencies looking for reliable zero-emission technology that will help them meet their sustainability goals while reducing maintenance,” said Patrick Duan, BYD North America Senior Vice President. “BYD is the first battery-electric bus manufacturer that has both a unionized workforce and a Community Benefits Agreement, which sets goals for hiring veterans, single parents, second chance citizens, and others facing hurdles in obtaining manufacturing employment.”
Buses included in the agreement are the 30-foot K7M, the 35-foot K8M, the 40-foot K9M, and the 60-foot K11M, the first articulated bus to successfully complete the new “Pass/Fail” protocol at the Federal Transit Administration Model Bus Testing Program in Altoona, Pa. Motor coaches included in the agreement are the 23-foot C6M, 40-foot C9M, and 45-foot C10M.
BYD buses have achieved more than 15 million emission-free miles in revenue service throughout the United States. There are more than 1,000 BYD battery-electric buses built or ordered for U.S. customers. Every American-built zero-emission BYD bus eliminates approximately 1,690 tons of CO2 over its 12-year lifespan, according to the U.S. Department of Transportation.
This purchasing agreement is available to any recipient or sub-recipient of Federal Transit Administration funding, regardless of geographic location. The contract is for one year with three one-year options.
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 over thirty-five-fold.
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.
Warren Buffett’s bet on Japan’s leading trading companies is paying off handsomely as the Nikkei 225 surpassed 30,000 on Monday for the first time in almost 31 years.
Berkshire Hathaway’s purchase of just over 5% of Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co., and Sumitomo Corp., were bought on the open market in 2020, and were first revealed in August 2020.
All the companies have moved up sharply over the past six months, with shares of Itochu Corp. up 27%, Marubeni Corp. up 29%, Mitsubishi Corp. up 25%, Mitsui & Co. 16%, and Sumitomo Corp. up 20%.
The combined stake was worth roughly $6.5 billion when it was announced on August 31, 2020.
The shares were purchased by Berkshire Hathaway’s wholly-owned National Indemnity Company, and the company said at the time that the intention was to hold its Japanese investments for the long term. Berkshire also disclosed that it may increase its holdings up to a maximum of 9.9% in any of the five investments.
The investment is not vulnerable to currency fluctuations, as Berkshire Hathaway has 625.5 billion of yen-denominated bonds outstanding, maturing at various dates beginning in 2023 and ending in 2060. Consequently, the company has only minor exposure to yen/dollar movements.
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.
Berkshire Hathaway-backed BYD, the world’s leading electric bus manufacturer, is gearing up for the switching-on of the world’s first high-power discharge Bus2Grid project at Go-Ahead London’s Northumberland Park bus depot.
Using “Vehicle-2-Grid,” or V2G, technology the project will demonstrate the ability to use energy stored aboard a BYD ADL battery-electric bus to be fed back into London’s power network. Vehicles are recharged overnight when energy demand is low, and tariffs cheaper, with electricity fed back to the grid when demand is high, thus helping to balance the network and increase efficiency.
BYD UK, through its partnership with Alexander Dennis Ltd. (ADL), is supplying 28 BYD ADL Enviro 400EV double deck eBuses which, using smart technology, will provide bi-directional charging capable of feeding energy back to the power grid.
The project represents a notable contribution from the bus sector towards the UK government’s commitment to deliver “net zero” greenhouse gas emissions by 2050.
With its world-class battery, motor and core technology expertise, BYD has been instrumental in the project from the outset by delivering a total battery-electric bus management solution. Alongside its partners, BYD is the first company in the commercial vehicle sector to provide high-power discharge technology as a V2G capability for electric buses.
The Bus2Grid consortium is led by energy provider SSE Enterprise in partnership with BYD Europe, UK Power Networks and Leeds University. Funding for the project comes from the UK government through its delivery partner, Innovate UK. Further support comes from technology provider, Origami and Transport for London. This consortium has seen excellent cooperation between the automotive industry, the energy community and academia in bringing forth pioneering V2G technology into public transport.
Go-Ahead London’s 28 V2G battery-electric buses from BYD ADL will be part of a total fleet of 120 electric vehicles at what is set to become UK’s largest electric bus garage with overnight charging capability at Northumberland Park. While current COVID-19 lockdown restrictions prevent the setting of a specific “switch on” date, the Bus2Grid project is nonetheless gearing-up for operations to commence in the summer 2021.
BYD, in partnership with Alexander Dennis Ltd. (ADL), is also a leading player in the UK electric bus market. ADL is a subsidiary of leading independent global bus manufacturer, the NFI Group Inc. The 28 BYD ADL double decks for the Bus2Grid project are part of a larger fleet order from Go-Ahead London delivered in 2020 comprising 49 Enviro 400EV double decks. There are now in excess of 500 BYD ADL pure-electric buses either delivered or on order with operators across the UK, to date clocking-up over 16 million emission-free miles since 2015.
“We share a vision with our project partners to deliver a cleaner, sustainable future,” said BYD UK Managing Director, Frank Thorpe, “we have a common goal to realize the full potential of eMobility. Soon, we will be actually generating energy for London’s power grid, as well as delivering safe, clean, emissions-free public transport to the nation’s capital. We’re very proud to be part of the project team and to be supporting Go-Ahead London as it begins the V2G project. “This Bus2Grid project also has huge potential elsewhere in the UK,” he said, “it is a movable energy storage system with the capacity to deliver significant quantities of electricity to help balance a city’s power grid and optimize its energy management system.”
Kevin Welstead, EV Sector Director for SSE Enterprise, said: “If we’re going to make real progress in decarbonising transport and hitting climate change targets, we need to optimise the existing flexibility within the energy system.”
“Developing a charging infrastructure that operates in two directions so that batteries can give back as well as take from the grid is an important part of this. Delivering the Bus2Grid project is the next natural step in using smart technology to make bidirectional charging the reality for today’s bus users.”
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 over thirty-five-fold.
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.
Chinese online ride-hailing platform Senmiao Technology will purchase another 500 vehicles from BYD. The automobiles are expected to be delivered to Senmiao by March 2021.
With this second order, Senmiao has ordered 1,000 of the anticipated 5,000 vehicles it will buy from BYD by the end of 2021.
Xi Wen, Senmiao’s Chairman and Chief Executive Officer, stated, “We are pleased to have made our second order of 500 EVs from our partner BYD, given the positive reception of EVs from our initial order in November 2020. We anticipate continued strong demand for our finance and leasing offerings with the development of our online ride-hailing platform in Changsha as the ride-hailing market returns to normalcy following the impact of the pandemic in 2020. Our core markets Chengdu and Changsha are excellent examples of a paradigm shift throughout China in the ride-hailing market, as the onset of ride-generating aggregation platforms such as Gaode Map and Meituan are helping to balance the competitive dynamics across the industry. We feel that Senmiao is in an advantageous position with both growing brand recognition and strong working relationships with manufacturers, technology providers and large E-commerce platforms. We are currently focused on expanding our share in the Chengdu and Changsha markets where we generated over 1.3 million rides or orders in the last calendar quarter of 2020. Furthermore, we are confident that we will be able to successfully replicate our model in new markets this year.”
A Profitable EV Company
BYD has reported strong sales of its vehicles, including the Han luxury car, which debuted in July. The Han is outselling its rivals from both Nio and Xpeng Motors.
BYD’s Han EV’s long-range pure electric version has a single-charge range of 605 kilometers (376 miles) based on the NEDC test cycle.
In other recent news, BYD announced in December that it received a large order to deliver another 406 pure electric buses to the Colombian capital of Bogota. The order was just weeks after it completed the delivery of 470 pure electric buses to the city.
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 over twenty-fold.
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.
Berkshire Hathaway-backed BYD has established a new battery research institute in the Chinese city of Chongqing.
Dubbed the Chongqing Fudi Battery Research Institute Co., Ltd., the company is owned by Fudi Industrial Co., Ltd, a wholly-owned subsidiary of BYD.
The institute has registered capital of 100 million yuan ($15.467 million).
BYD’s Fudi Industrial Co., Ltd, currently has five companies under its umbrella, including Fudi Vision, Fudi Battery, and the company supplies parts not only to BYD, but also to its competitors, including Great Wall, Changan, Dongfeng and Chery.
A Profitable EV Company
In the last six months, BYD has reported strong sales of its vehicles, including the Han luxury car, which debuted in July. The Han is outselling its rivals from both Nio and Xpeng Motors.
BYD’s Han EV’s long-range pure electric version has a single-charge range of 605 kilometers (376 miles) based on the NEDC test cycle.
In other news, BYD announced in December that it received a large order to deliver another 406 pure electric buses to the Colombian capital of Bogota. The order was just weeks after it completed the delivery of 470 pure electric buses to the city.
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 over thirty-fold.
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.
BYD UK and Alexander Dennis Limited have announced that they will commence the design and assembly of chassis for the BYD ADL partnership’s electric single and double deck buses for the British market, ensuring completed vehicles are built in the UK.
Electric bus chassis assembly will take place in ADL’s facilities with on-the-ground support from the BYD team, and is planned to commence in the second half of 2021.
Until now, chassis for the BYD ADL Enviro200EV single deck and BYD ADL Enviro400EV double deck buses were fully built by BYD before being delivered to ADL’s facilities in the UK to have their bodywork fitted.
Since it began in 2015, the partnership has over 500 electric buses delivered or on order. They have clocked up a combined over 16 million emission-free miles of reliable service in London as well as numerous towns and cities across the UK.
More than 70% of electric buses introduced in Britain in this period were supplied by the BYD ADL partnership.
Frank Thorpe, Managing Director of BYD UK, said: “This news underpins the fantastic relationship we have with ADL in the UK. We have always worked closely to deliver the highest quality products and services, and we are confident that production of complete vehicles here in the UK will bring even greater efficiencies for our customers. More importantly,” he said, “this commitment from both BYD and ADL is also a reflection of the acceptance of eMobility from Local Authorities, bus operators and their passengers. Electrification in our towns and cities is gathering pace, and the BYD ADL partnership is spearheading the drive towards a more sustainable future.”
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 over thirty-fold.
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.
Shares of Berkshire Hathaway-backed Chinese battery and vehicle manufacturer BYD Co., Ltd. jumped 6.49% on Thursday to a new all-time high.
BYD’s stock (BYDDF), which had been as low as $4.35 on March 23, closed at $31.00 on Thursday.
The stock is up over 625% over 12 months.
A Profitable EV Company
The company has reported strong sales of its vehicles, including the Han luxury car, which debuted in July. The Han is outselling its rivals from both Nio and Xpeng Motors.
BYD’s Han EV’s long-range pure electric version has a single-charge range of 605 kilometers (376 miles) based on the NEDC test cycle.
In other news, BYD announced in December that it received a large order to deliver another 406 of its pure electric buses for the Colombian capital of Bogota.
The order was just weeks after it completed the delivery of 470 pure electric buses to the city.
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 over thirty-fold.
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.
Berkshire Hathaway-backed BYD (Build Your Dreams) has won a large order to deliver another 406 pure electric buses to the Colombian capital of Bogota. The order is just weeks after the delivery of the 470 pure electric buses to the city.
BYD will co-work with Superpolo, a Colombian bus manufacturer, on the body part of the buses for such order.
The buses were tendered by the Bogota City Public Transport Authority (TRANSMILENIO S.A.). A joint venture between Colombian business group Fanalca and international public transport operator Transdev used BYD’s integrated E-bus solutions to bid and successfully won the tender.
The buses are expected to be deployed along 15 routes in Bogota’s Fontibon district in 2021 and thereafter 150,000 residents along the routes will be able to enjoy pure electric and zero-emission transportation services.
“BYD is honored to receive another large order. There are currently 483 electric buses in TRANSMILENIO S.A, and when all 406 buses are in operation next year, Bogota will have 889 pure electric buses, of which 876 will be from BYD – accounting for more than 98.5%,” said Lara Zhang, Regional Director of BYD Latin America.
BYD first entered the Colombian market in 2012 and made several milestone achievements: building the first pure electric taxi fleet in South America in 2013, entering the Bogota BRT system in 2017. It also delivered 64 electric buses to Medellin in 2018.
Throughout Latin America, BYD’s new energy vehicle footprint has spread to major markets including Chile, Colombia, Ecuador, Brazil, Barbados, Panama, Costa Rica, Uruguay and Argentina.
Globally, BYD’s green transport offerings have spread to over 300 cities, operating in more than 50 countries and regions.
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 over twenty-fold.
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.
Berkshire Hathaway-backed Chinese battery and vehicle manufacturer BYD Co., Ltd. is partnering with Canadian Solar Inc. to provide advanced battery technology for the 100 MWac Mustang solar plant in Kings County, California.
Located in California’s Central Valley, the Mustang solar power project produces enough clean electricity to power approximately 45,000 homes. Sonoma Clean Power and MCE are purchasing this electricity under long-term power purchase agreements.
The 75 MW or 4-hour 300 MWh energy storage system is a retrofit addition to the Mustang solar plant which was originally developed by Canadian Solar’s wholly-owned subsidiary Recurrent Energy.
For the Mustang project, BYD will utilize Cube Pro, the latest generation energy storage solution designed for larger utility-scale projects. At 2.5 MWh per unit, the Cube Pro has a new liquid-cool battery system in the enclosure, with an energy density increase of 80% compared to the previous generation that used customized shipping containers as the enclosure.
“We are excited to partner with Canadian Solar on this solution. We are very proud to be able to provide reliable and safe BYD technology to the Mustang project,” said BYD North America President Stella Li. “We will deliver the lithium-ion battery storage solution to Canadian Solar, who acts as the full system integrator of the storage retrofit.”
By pairing solar PV with advanced battery technology, Canadian Solar helps its customers to generate and store solar power during the day for use in the evening. This approach allows California’s power grid to absorb and integrate higher levels of reliable, safe, and affordable renewable energy while contributing to the state’s climate mitigation efforts.
“We are pleased to start supplying this large-scale solar plus energy storage project which will be fully developed and integrated by Canadian Solar with our proprietary battery technology. The adoption and integration of BYD’s batteries will improve the utilization of solar energy and meaningfully enlarge our global addressable market in the solar industry.”
BYD has been committed to the North America Energy Storage market for almost a decade, with the first MW-scale project deployed in the U.S. in 2011. It has remained a market leader since then.
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 sixteen-fold.
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.