Add FedEx name to the growing list of companies committing to a transformation to electric mobility in the near future. And while we're not talking about an auto manufacturer here, the distribution giant is a major player when it comes to vehicles, with upwards of 200,000 of them on the road sporting the FedEx name.
FedEx's commitment ranges even more broadly. The company aims to become carbon neutral by 2040. To get there, it intends to invest more than $2 billion in three key areas: vehicle electrification, sustainable energy and carbon sequestration.
With respect to vehicles, the company's plan is to gradually electrify its entire fleet of vehicles used for parcel pick-up and delivery (PUD). In the first phase, 50 percent of the vehicles purchased by FedEx Express worldwide will be electric by 2025. By 2030, the proportion will rise to 100 percent, and as the conventional fleet is replaced, the company’s fleet will be fully zero-emission.
Of course, if the move to electrification picks up speed, FedEx could accelerate the pace. It’s already known that the company has signed an agreement with GM to receive an initial batch of 500 EV600 electric vans from that automaker’s new BrightDrop division as early as the end of this year.