> Warren Buffett Blog: BYD to construct monorail in Philippines

Monday, August 28, 2017

BYD to construct monorail in Philippines

BYD the electric car, battery company and is partially owned by Berkshire Hathaway Inc. won its first overseas contract to build a monorail as BYD pushes further into municipal public transportation.

The Shenzhen, China based company will construct a monorail in Iloilo, the Philippines, and expects the first phase of the 20kms (12-mile) system to start operations in 2019, it said in a statement on Wednesday. The company didn’t provide an investment amount.

BYD—already China’s biggest electric-car manufacturer—has supplied battery-powered buses for cities overseas, in markets including the US and Europe. Monorail will represent the next major growth area for BYD given the prospects for light-rail systems as a solution to urban gridlock in China’s smaller cities, which can’t afford to build and maintain expensive underground subways, Chairman Wang Chuanfu said in June last year.