Ryder Ramps Up Electrification Effort; Plans To Add 4,000 GM Electric Vans

Ryder System Inc R, a logistics and transportation company, is planning to introduce 4,000 electric vans to its lease and rental fleet through 2025.
The electric vans will constitute General Motors Co’s GM BrightDrop Zevo 600 and Zevo 400 electric vans.
Ryder said the first 200 of the vans will be ordered this year. The financial terms were not disclosed.
The expanded offering will enable Ryder customers to test and broaden their EV footprint and accelerate their sustainability initiatives.
The Zevo 600 and Zevo 400 electric vans boast a range of up to 250 miles on a full charge and can support a payload of about 2,000 to 3,400 lbs.
Ryder plans to deploy the model year 2023 Zevo 600 electric vans in its rental fleet in California, Dallas-Fort Worth, and New York City later this year.
Price Action: R shares are trading lower by 3.05% at $86.52 on the last check Monday.
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