Automaker BYD’s new U.S. project could be the next big thing in EVs
Business & Technology
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Warren Buffett-backed BYD Auto is on a roll. It sold a record 70,000 “new energy” vehicles (including hybrids and full electric cars) in September, a year-on-year increase of 276.4%, and also announced a new partnership in the U.S.:
- BYD will provide 5,000 electric vehicles — including buses, tractors, and delivery trucks — to Levo Mobility, a company that rents out entire EV fleets to customers like cities and schools trying to electrify their transportation systems.
- But these aren’t just any EVs: Levo fleets use a technology called “vehicle-to-grid” (V2G) where vehicles are charged using the power grid as normal, but can also supply energy back to the grid. BYD’s vehicles will be V2G-enabled, too.
Why it matters: China is set to dominate the EV industry, and it’s hard to imagine the U.S. reducing its reliance on the internal combustion engine without Chinese-made vehicles being a part of the mix.
