UPS - UPS And FedEx Confront Obstacles In Going Electric: Report | Benzinga
The shift to electric delivery vehicles by United Parcel Service Inc (NYSE:UPS) and FedEx Corp (NYSE:FDX) reportedly faces challenges amid U.S. supply uncertainties.
These companies are striving to replace their gas-powered vans to align with environmental goals.
The transition to electric vehicles (EVs) is crucial for U.S. President Joe Biden’s climate objectives in transportation. However, hurdles include battery shortages and financial struggles among electric van startups, according to Reuters.
Both UPS and FedEx confront concerns about the sustainability of their electric van suppliers, with doubts lingering over their longevity in the industry, per the report.
Luke Wake, UPS’s vice president ...