> Warren Buffett Blog: BYD car company owned by Warren Buffett wins contract in USA

Thursday, April 30, 2015

BYD car company owned by Warren Buffett wins contract in USA

BYD, the Chinese automaker part-owned by Warren Buffett’s Berkshire Hathaway Inc., projected it will sell as many as 200 electric buses in the U.S. this year after securing its biggest order from a mass-transit operator.

The company won the contract in the U.S. from the Long Beach Transit Authority, which serves portions of the Los Angeles metropolitan area, BYD Senior Vice President Stella Li said in a telephone interview. The authority’s board approved the purchase of an initial 10 electric buses, each costing about $800,000, with options for its partner agencies to buy as many as 50 more, Li said.

The Long Beach deal marks BYD’s biggest order for electric buses outside its home market since the Shenzhen-based company opened a bus factory in California a year ago to push into the U.S., Canadian and Latin American markets. 

The company has sold more than 5,000 of the electric buses globally, with about 50 of its buses in operation in the U.S.