# Amazon.com to invest over 1 billion euros in European electric van, truck fleet Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-10-10 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Amazon to Invest Over 1 Billion Euros in Electric Fleet Meta Description: Amazon announces plans to triple its electric van fleet in Europe to over 10,000 vehicles by 2025, with a commitment to achieve net-zero carbon by 2040. URL: https://financedigest.com/amazon-com-to-invest-over-1-billion-euros-in-european-electric-van-truck-fleethtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-10-09t230610z1lynxmpei9809ertroptp4amazon-delivery-scout-1736815075847-compressed.jpg) By Nick Carey LONDON (Reuters) – Amazon.com Inc said on Monday it will invest more than 1 billion euros ($974.8 million) over the next five years in electric vans, trucks and low-emission package hubs across Europe, accelerating its drive to achieve net-zero carbon. The retailer said the investment was also aimed at spurring innovation across the transportation industry and encouraging more public charging infrastructure for electric vehicles (EVs). The U.S. online retailer said the investment would help its [electric van](https://www.financedigest.com/lack-of-electric-vans-opens-door-for-chinese-other-ev-makers.html "Lack of electric vans opens door for Chinese, other EV makers") fleet in Europe more than triple from 3,000 vehicles to more than 10,000 by 2025. The company did not say what percentage of its [European last-mile delivery](https://www.financedigest.com/european-food-delivery-shapes-up-with-getirs-gorillas-buy.html "European food delivery shapes up with Getir’s Gorillas buy") fleet is electric today, but said those 3,000 zero-emission vans delivered over 100 million packages in 2021. Amazon said it also hopes to purchase more than 1,500 [electric heavy goods vehicles](https://www.financedigest.com/electric-vehicles-confront-the-leap-to-the-mass-market.html "Electric vehicles confront the leap to the mass market") – used for “middle-mile” shipments to package hubs – in the coming years. Although a number of large logistics firms – including package delivery companies [United Parcel Service Inc and FedEx Corp – have committed to buying](https://www.financedigest.com/uks-competition-watchdog-to-examine-edf-buying-ges-nuclear-turbine-unit.html "UK’s competition watchdog to examine EDF buying GE’s nuclear turbine unit") large numbers of zero-emission electric vans and trucks, there are still not many available for purchase. A number of startups are [racing to bring electric vans or trucks to market](https://www.financedigest.com/new-suppliers-race-to-plug-in-to-electric-car-market.html "New suppliers race to plug in to electric car market") and are facing increasing competition from legacy manufacturers like General Motors Co and Ford Motor Co. Amazon’s largest [electric van order is for 100,000 vehicles](https://www.financedigest.com/tax-credits-for-eu-electric-vehicles-to-dominate-mondays-trade-talks-with-u-s.html "Tax credits for EU electric vehicles to dominate Monday’s trade talks with U.S") from Rivian Automotive Inc through 2025. The company said that alongside EVs, it will [invest in thousands of chargers at facilities across Europe](https://www.financedigest.com/investment-in-mental-health-amongst-cybersecurity-professionals-set-to-increase-according-to-infosecurity-europe-poll.html "Investment in mental health amongst cybersecurity professionals set to increase according to Infosecurity Europe poll"). The retailer said it will also [invest in doubling](https://www.financedigest.com/brexit-no-obstacle-as-chinese-overseas-property-investment-doubles.html "Brexit no obstacle as Chinese overseas property investment doubles") its European network of “micro-mobility” hubs from more than 20 cities today. Amazon has used those centrally located hubs to run new delivery methods [including electric cargo bikes or on-foot deliveries to cut emissions](https://www.financedigest.com/citi-pledges-to-cut-emissions-for-more-sectors-including-coal.html "Citi pledges to cut emissions for more sectors including coal"). The company [plans to achieve net-zero carbon](https://www.financedigest.com/planning-to-move-to-the-low-carbon-economy-how-banks-can-plan-today-for-new-stress-tests-arriving-soon-2.html "Planning to move to the low carbon economy: How Banks can plan today for new stress tests arriving soon") by 2040. ($1 = 1.0259 euros) [(Reporting by Nick Carey in London; Editing by Matthew Lewis)](https://www.financedigest.com/london-reclaims-place-as-preeminent-global-financial-centre-for-the-first-time-since-2013-according-to-global-regulatory-outlook-report-from-duff-phelps.html "London reclaims place as preeminent global financial centre for the first time since 2013, according to Global Regulatory Outlook report from Duff & Phelps") --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---