Insights

Amazon introduces new electric delivery trucks in Los Angeles

The EVs are part of Amazon’s order for 100,000 Rivian trucks.
The post Amazon introduces new electric delivery trucks in Los Angeles appeared first on The Motley Fool Australia. –

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Rivian's Illinois factory.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Amazon.com, Inc (NASDAQ: AMZN) announced yesterday that it has started using electric vehicles (EVs) for deliveries in the Los Angeles area after four months of testing. The delivery trucks are made by EV start-up Rivian. 

Amazon led a $700 million investment round in Rivian in 2019 as part of the Climate Pledge agreement it co-founded. The agreement commits to achieving net-zero carbon emissions by 2040, 10 years earlier than the Paris Accord’s plan. Amazon ordered 100,000 electric delivery vans from Rivian to help achieve that goal, and plans to have 10,000 of the vehicles in service in 2022, with all 100,000 by 2030. 

Amazon said it will have its new custom EVs operating in 15 additional cities this year. “This is one of the fastest modern commercial electrification programs, and we’re incredibly proud of that,” sad Ross Rachey, director of Amazon’s global fleet and products. 

The new vehicles have a range of 150 miles on a single charge. Amazon said it has also begun installing thousands of charging stations at its delivery hubs across North America and Europe. In order to meet its commitment, the company said in its news blog, it is also “exploring new technologies, alternative fuels, and delivery methods that deliver packages to customers in a more sustainable way”.

In addition to the specialty vehicles for Amazon, Rivian plans to manufacture electric pickup trucks and SUV “adventure vehicles” specialising in off-road conditions. The company has raised $8 billion since the start of 2019 to fund its development.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Howard Smith owns shares of Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Amazon introduces new electric delivery trucks in Los Angeles appeared first on The Motley Fool Australia.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!