UPS makes $450M investment in natural gas-powered trucks
UPS is making nearly a half-billion-dollar investment in trucks powered by alternative fuels.
The Atlanta-based transportation giant announced on Wednesday that it will acquire more than 6,000 natural gas-powered trucks for $450 million beginning in 2020 and continuing through 2022.
“UPS continues to expand and improve our smart logistics network by implementing new technologies and creating a highly flexible, data-driven, and sustainable network,” said Juan Perez, chief information and engineering officer at UPS, in a statement. “That is why we intend for 25 percent of our vehicles purchased in 2020 to run on alternative fuels.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
These new trucks will all have compressed natural gas (CNG) systems, via a deal with Agility Fuel Solutions, part of Hexagon Composites.
“We are proud to continue our collaboration with UPS, a front-runner in clean transportation,” said Seung Baik, the president of Agility Fuel Solutions. “With our range of proven and reliable clean fuel technologies and aftermarket support capabilities, we will assist UPS in reaching its sustainability targets.”
According to the company, UPS has made a $1 billion dollar investment in the last 10 years -- via a combination of fueling stations, alternative fuel and advanced truck technology -- all in an effort to achieve its goal of slashing global, company-related greenhouse gas emissions by 12 percent as of 2025. Beyond that, by the end of this year, UPS will be running 61 natural gas fueling stations.