(BRK.A), (BRK.B)
With BYD’s pure electric e6 taxis on the streets in more than 10 countries, the company is looking towards the Southeast Asian motor hub of Thailand for its next major launch.
The environmentally friendly taxis are capable of reaching a maximum distance of 350 kilometers on a single charge, and will operate in Bangkok as a premium taxi service.
BYD aims to introduce 1,000 pure electric taxis in Thailand by 2019, with the first hundred scheduled to hit the streets this month.
Thailand has introduced policies ranging from tariff to corporate income tax cuts to boost the production and use of electric cars in the country.
The official selection of BYD as the provider of the country’s first fleet of pure electric taxis is in line with the country’s ambitions of having 1.2 million green energy vehicles ply its streets.
“We are honoured to have secured the trust of Thailand’s authorities amidst stiff competition,” said Liu Xueliang, General Manager of BYD Asia Pacific Auto Sales Division. “In future everyone will have the added option of experiencing the sights and sounds of Bangkok in comfort, and in a way that’s better for the environment.”
In 2017, BYD sold around 130,000 units of new energy vehicles, ranking number one in global new energy vehicle sales for the third consecutive year. Since its establishment in 1995, the company’s renewable energy products have gained a footprint in more than 200 cities around the world including Okinawa, London and Singapore.
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.