Shenzhen, China is now packed with more than 20 million people and hundreds of factories turning out high-tech hardware. The new Shenzhen has a mix of electric buses, electric bikes and scooters, electric taxis, and even electric dump trucks. The shift to EVs that China has been pushing more than any other country has put Shenzhen at the leading edge of something unprecedented: the quieter city.
BYD, Inc. is the new Ford of China’s electrified-motor city. The electric-vehicle maker, backed by big Chinese subsidies and a $232 million investment from Warren Buffett in 2008, has eclipsed Tesla Inc as the leading maker of plug-in EVs. BYD almost singlehandedly electrified Shenzhen’s fleet of 16,000 buses and is now at work on the full-scale replacement of the city’s taxis and trucks.
Read the article at Bloomberg.