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Amazon will invest $970 Million in electric vehicles to power its European fleet

Amazon announced Monday that it will spend EUR1 Billion, or $972 Million, on electric vehicles to expand its European fleet.

The company would have at least 10,000 electric delivery vans in its fleet by 2025. This is an increase from the existing 3,000 and more than 1,500 long-haul electric trucks. This investment is part of Amazon’s goal for net-zero carbon emissions by 2030.

Amazon stated that it expects to also deliver more packages by e-cargo bikes or on foot using centrally located delivery stations it calls “micro-mobility Hubs.” It said such hubs are already in place in 20 major European cities including London, Munich, and Paris.

The company stated that the hubs allow Amazon to use new delivery methods in Europe’s dense cities to deliver packages more sustainably. Amazon plans to double the number of these hubs by 2025.

Amazon (AMZN), a company that sells Amazon products, stated that the investment would drive innovation in the sector and encourage more public charging infrastructure. This will allow the wider transportation industry to reduce its emissions more quickly.

Andy Jassy, Amazon CEO, stated that “Our transportation network is one the most

difficult areas of our business to reduce carbon.” “Deploying thousands upon thousands of long-haul trucks, electric vans and bikes will help us move away from traditional fossil fuels.”

Many automakers are increasing the production of electric delivery vehicles. Rivian, an electric truck startup in which Amazon was an early investor, is one of them. Rivian, which announced last month that it had signed a memorandum with Mercedes to collaborate on the production of electric vans for Europe, said that.

Delivery vehicles that run on short routes are easy to recharge at night at the depot or warehouse of a company.

Electric semi trucks pose a greater challenge because they travel long distances, making efficient charging difficult. Tesla (TSLA), which has been planning to introduce an electric semi for years, will deliver its first one in December to Pepsi, Elon Musk, CEO, said last week.

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