video Fox Business Flash top headlines for June 21
Check out what’s clicking on FoxBusiness.com.
FedEx has received its first delivery of 150 electric vans from General Motors' startup BrightDrop as the shipping giant looks to transition its fleet to all-electric, zero-tailpipe emissions by 2040.
GENERAL MOTORS CO.
The BrightDrop Zevo 600, which can travel at an estimated range of up to 250 miles on a full charge and can carry payloads of up to 2,200 pounds, was delivered throughout Southern California to the shipping giant's subsidiary, FedEx Express. BrightDrop also plans to introduce its Zevo 400 vans, which are designed for smaller, more frequent deliveries, in late 2023.
Image 1 of 3
FedEx has received 150 of BrightDrop’s Zevo 600s. The shipping giant plans to incorporate 2,500 of the electric vans in its fleeting in the coming years.
"Our phased approach to vehicle electrification is a crucial part of our roadmap to achieve carbon neutral global operations," FedEx Chief Sustainability Officer Mitch Jackson said in a statement. "In just under six months, we’ve taken delivery of 150 BrightDrop Zevo 600s for our parcel pickup and delivery fleet. In today’s climate of chip shortages and supply chain issues, that’s no ordinary feat and a true testament to the collaboration between FedEx and BrightDrop."
ELECTRIC CAR REVOLUTION: YOU BOUGHT ONE, BUT CAN YOU GET IT SERVICED?
GM previously delivered five of its electric vans to FedEx in December. Under an updated agreement signed in January, FedEx will incorporate a total of 2,500 BrightDrop Zevo 600s across its operations over the next few years.
Additionally, FedEx has indicated that it may add up to 20,000 more vehicles in the coming years.
In order to support its new vehicles, the company will build charging infrastructure across its facilities network, including more than 500 already installed across California. FedEx will also actively work with utility companies to evaluate and determine the capacity needed for electrical grids to support the move and invest to expand its facilities' on-site generation and procurement of renewable energy.
CLICK HERE TO READ MORE ON FOX BUSINESS
In addition to FedEx, GM has established an agreement with Walmart for an initial fleet of 5,000 BrightDrop vans to help bolster the retailer's efforts to scale its InHome delivery service.
The retailer is looking to expand InHome from 6 million to 30 million U.S. households by the end of 2022 and will hire more than 3,000 associate delivery drivers to support the move.
RIVIAN AUTOMOTIVE INC.
Other companies getting in on the electric delivery van action include Ford, Amazon-backed startup Rivian, Stellantis and FedEx rival UPS.
Read Full Article