AP NEWS

FedEx Acquires 1,000 Chanje Electric Vehicles

November 20, 2018

MEMPHIS, Tenn.--(BUSINESS WIRE)--Nov 20, 2018--FedEx Corp. (NYSE: FDX) today announced it is expanding its fleet to add 1,000 Chanje V8100 electric delivery vehicles. FedEx is purchasing 100 of the vehicles from Chanje Energy Inc and leasing 900 from Ryder System, Inc. The purpose-built electric vehicles will be operated by FedEx Express for commercial and residential pick-up and delivery services in the United States.

“FedEx continually seeks new ways to maximize operational efficiency, minimize impacts and find innovative solutions through the company’s Reduce, Replace, Revolutionize approach to sustainability,” said Mitch Jackson, FedEx Chief Sustainability Officer. “Our investment in these vehicles is part of our commitment to that approach of serving our customers and connecting the world responsibly and resourcefully.”

The vehicles are manufactured by FDG in Hangzhou, China, and purchased through Chanje Energy Inc., the company’s subsidiary for global business. Ryder System, Inc. will provide support services for all of the vehicles.

The EVs can travel more than 150 miles when fully charged and have the potential to help FedEx save two thousand gallons of fuel while avoiding 20 tons of emissions per vehicle each year. The maximum cargo capacity is around 6,000 pounds. All of the EVs will be operated in California.

FedEx has been using all-electric vehicles as part of its pickup-and-delivery fleet since 2009. We believe that wider adoption of alternative-fuel, electric and hybrid electric vehicles will play a key role in reducing global emissions, while diversifying and expanding renewable energy solutions. Read more about the company’s sustainability efforts in the 2018 Global Citizenship Report.

About FedEx Corp.

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $67 billion, the company offers integrated business solutions through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 425,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181120005165/en/

CONTACT: Rae Lyn Rushing

(901) 434-5791

rae.rushing@fedex.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA TENNESSEE

INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY TRANSPORT AIR TRUCKING LOGISTICS/SUPPLY CHAIN MANAGEMENT ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE FLEET MANAGEMENT

SOURCE: FedEx Corp.

Copyright Business Wire 2018.

PUB: 11/20/2018 06:55 AM/DISC: 11/20/2018 06:55 AM

http://www.businesswire.com/news/home/20181120005165/en

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