- United Parcel Service Inc UPS tries implementing four-wheeled eQuad electric cargo bikes for deliveries in densely packed urban areas, Reuters reported.
- The move is taken as a part of the package delivery giant’s push into electric vehicles.
- The report added that the company is trialing around 100 bikes manufactured by British firm Fernhay in seven European markets.
- eQuad has an electric-assisted top speed of around 25 kilometers and can haul up to 200 kilograms (441 lb) of packages.
- Reuters report further noted that UPS is also planning to launch trials in the U.S. and some Asian markets.
- Price Action: UPS shares closed lower by 2.58% at $214.51 on Thursday.
- Photo by MobiusDaXter via Wikimedia
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