XM does not provide services to residents of the United States of America.

Amazon unveils first electric seaport trucks amid push to slash tailpipe emissions



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Amazon unveils first electric seaport trucks amid push to slash tailpipe emissions</title></head><body>

By Lisa Baertlein

LOS ANGELES, May 7 (Reuters) -Amazon.com AMZN.O on Tuesday will unveil the first of a dozen Volvo electric big rigs it plans to deploy this year to pick up cargo from the nation's busiest container seaport in southernCalifornia.

The e-commerce giant said it already has eight of those semi trucks in useat the Los Angeles/Long Beach port complex, where every so-called drayage truck must be zero-emissions by 2035.

The deployment is a first for Amazon, extending its vehicle electrification projects across its land-based logistics network that stretches from ocean ports to customer doorsteps. The effort is vital to the company's push to reachnet-zero carbon emissions by 2040.

So far, a little more than 1% of the 23,761 trucks that serve the Los Angeles/Long Beach port complex are zero-emission vehicles - including 201 electric rigs, Long Beach port spokesman Lee Peterson said.

"Heavy-duty trucking is a particularly difficult area to decarbonize," said Udit Madan, Amazon's vice president of worldwide operations.

Amazon has rolled out more than 13,500 Rivian RIVN.O electric cargo delivery vans across the country since 2022. The transition to electric semi trucks will be a heavier lift, largely because their bigger batteries require more intensive charging infrastructure.

Amazon is still on a learning curve with electric big rigs, said Madan, who oversees Amazon's growing logistics network.

The manufacturer of Amazon's electric drayage trucks will continue working with the company and JB Hunt JBHT.O, which provides drivers for the rigs, throughout the deployment, said Keith Brandis, vice president of partnerships and system solutions at Volvo Trucks North America VOLVb.ST.

"We'll still have some lessons learned through this whole process," Brandis said.

Meanwhile, the ports, private companies and truck owners are racing to build heavy-duty chargersto support the transition to zero-emissions vehicles.

In the near term, Amazon's electric port trucks will charge at an offsite facility operated by Forum Mobility, a startup that counts Amazon's Climate Pledge fund among its early investors. On May 15, Forum Mobility will break ground on a Port of Long Beach depot that promises to deliver high-speed charging for hundreds of drayage trucks each day.




Reporting by Lisa Baertlein in Los Angeles, editing by Deepa Babington

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.