That's how much Amazon (NASDAQ: AMZN) just ponied up to electrify its European fleet of delivery vehicles.
With this single investment, Amazon will more than triple its fleet of electric delivery vans.
The company says transitioning its fleet to electrified vehicles will help it reach its goal of producing net-zero carbon emissions by 2040.
While that’s all well and good, Amazon isn’t a charity, and it wouldn’t be doing this if it didn’t make economic sense.
Let’s be honest. It’s never been about carbon emissions.
It’s always been about the money.
And this isn’t a criticism.
It’s merely an observation of truth.
Why else do you think the biggest fleet operators in the world are currently transitioning to electrified commercial vehicles?
FedEx (NYSE: FDX) plans to operate an all-electric parcel pickup and delivery fleet by 2040.
DHL is transitioning its fleet to electric and earlier this year inked a major deal with Volvo to supply it with hundreds of new electric trucks.
Walmart (NYSE: WMT) has committed to transitioning its entire fleet to electric by 2040. Back-room wind energy deals in China… See-through solar panels… 500-mile electric car batteries… whether you’ve been reading about it or not, there’s an alternative energy boom that’s rapidly taking over. And it’s making a handful of smart investors, very, very rich. To get in on this action, become an Energy and Capital member today – absolutely free. Simply enter your email in the box below, and we’ll send you your first report, The Electric Car Revolution Starts Now, right away.
Back-room wind energy deals in China… See-through solar panels… 500-mile electric car batteries… whether you’ve been reading about it or not, there’s an alternative energy boom that’s rapidly taking over. And it’s making a handful of smart investors, very, very rich.
To get in on this action, become an Energy and Capital member today – absolutely free. Simply enter your email in the box below, and we’ll send you your first report, The Electric Car Revolution Starts Now, right away.
PepsiCo (NASDAQ: PEP) is transitioning its fleet too and just recently announced that it will be the first company to take delivery of Tesla’s new all-electric semitrucks.
Other companies switching their fleets to electric include but are not limited to:
- AT&T (NYSE: T)
- Cemex (NYSE: CX)
- Comcast (NASDAQ: CMSCA)
- Duke Energy (NYSE: DUK)
- Hertz (NASDAQ: HTZ)
- Verizon (NYSE: VZ)
- IKEA (private)
- Frito-Lay (private)
- Genentech (private)
Make no mistake: While the transition away from internal combustion passenger vehicles to electric is often celebrated, criticized, or reported in the mainstream media, the profit potential of those vehicles pales in comparison with electric commercial trucks and buses.
The former is fun to read about, but the latter is where you’ll get the most bang for your buck.
When it comes to profiting from the transition to electrified transportation, commercial fleets represent the ultimate cash cow in the electric vehicle space…
Particularly electric buses, where growth is being amplified by two key factors:
- They’re cheaper and more efficient to operate than internal combustion buses.
- Government mandates, from the federal level down to the local level, are forcing fleet operators to make this transition.
I’m not saying I’m a fan of government intervention at any level, but if the government’s going to expedite this transition, who am I not to profit from it?
After all, if the government is doling out corporate welfare checks and you can get one too, why wouldn’t you wet your beak?
It’s the only electric bus manufacturer that provides fleet managers with the buses, charging infrastructure, and specialty components required to make these things work. And it’s the only pure-play electric bus manufacturer that’s not getting crushed during this bear market.
In its most recent quarter, this company saw a 27% increase in total revenue ($74.6 million compared with $58.5 million in Q2 2021) and a 93% increase in battery production, delivered 52 new electric buses, and had more than $500 million in cash and cash equivalents.
And it gets better too…
My contacts tell me that this company is going to make a very big announcement sometime within the next few weeks — an announcement I believe could give the stock a very nice shot of steroids.
You can learn more about the company and get access to its ticker symbol here.
And I would recommend you do so before this big announcement happens.
Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor’s page.
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