UPS Investment in First Electric Vehicle Arrival

Press Release

UPS confirmed the completion of a minority stake in UK-situated Electric Vehicle (EV) first Arrival in an act that saw an order placed of 10,000 electric carts designed by the multinational distribution company.

The development comes days after the news of Hyundai and Kia, the auto giants, have invested £ 85 m in that company and made the innovator of electric vehicles, EV, a valuable start-up in the United Kingdom.

UPS has agreed to buy 10,000 EVs for building with priority accessibility to buy new EVs-in addition to the investment by Venture Arm UPS ventures-financial information not revealed.

As a result, UPS will cooperate with Arrival to create a large number of EVs with Advanced Driver Assistance Systems. The technology aims to improve safety and operating effectiveness, including the prospects in UPS warehouses for automatic movement.

Juan Perez, head of Information and Engineering, said: “UPS is still building an incorporated number of electric cars in conjunction with innovative, large-scale charging technology. “We acknowledged the requirement to work with partners worldwide to tackle both road traffic congestion and challenges in pollution for our consumers as well as the communities of our service. Super trends such as population increase, urban migration and e-commerce continue rising.’ Electric vehicles provide a foundation for our viable metropolitan delivery techniques. Substantial involvement in Arrival helps UPS to collaborate in the creation and manufacture of the most innovative electric vehicles in the world.

Read more at UPS Investment in First Electric Vehicle Arrival: Delivery Giant Puts A 10000 van Order

Related posts