Amazon to Inject Nearly $1B into Electrifying European Fleet

Amazon announced on Monday that it had allocated $972 million for electrifying its vehicle fleet in Europe. This investment is set to grow the EV fleet of the online retailer from the current 3,000 vehicles to a minimum of 10,000 by 2025. Besides the 3,000 delivery vans already runs, the company also has 1,500 long-haul trucks running on li-ion batteries.

Amazon is taking these steps in order for all its operations to be carbon-neutral by 20240. While speaking at the launch of the electrification program, CEO Andy Jassy revealed that the hardest job the company faced was in taking its transportation division to net-zero. This goal would require sustained efforts as well as investment, and the company was willing to do everything it takes to attain the net-zero goals.

To this end, Amazon Europe plans to make a lot more deliveries using both e-bikes and personnel on foot. These additional decarbonization approaches are being made possible by the delivery stations located in central locations within densely populated metropoles and cities. These stations, dubbed micro-mobility hubs, currently exist in a host of European cities, such as Paris, London and Munich. In total, 20 cities across Europe have these hubs, and the plan is to roll more out and have double that number by the end of 2025.

The company says that the money it plans to inject into beefing up its EV fleet in Europe will be a catalyst for innovation within the electric vehicle industry and will add impetus to the efforts to develop a more robust EV charging network. This will subsequently encourage more players in the transportation industry to accelerate their plans of switching to more sustainable forms of energy and cut carbon emissions.

For entities such as Amazon, charging fleets of delivery vans is relatively easy because those vehicles converge at warehouses or depots overnight. Such an approach presents few hassles to charge these vehicles at night and have them ready to make their delivery runs during the day. However, the long-haul trucking segment is more challenging because the vehicles are on the road for most of the day and night, therefore making lengthy pit stops to recharge challenging.

Fortunately, plenty of electric vehicle manufacturers such as Workhorse Group Inc. (NASDAQ: WKHS) are ramping up their production. These increased numbers will have a corresponding positive effect upon accelerating plans to establish the needed infrastructure to support all those electric vehicles, including heavy-duty, long-haul trucks. Tesla has announced its intention to deliver a fully electric semi-trailer to Pepsi this December, and that could be the start of an avalanche of these semis hitting the road in different jurisdictions.

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