FedEx Corporation (FDX - Free Report) announced plans to expand its fleet by adding 1,000 Chanje V8100 electric delivery vehicles of which, 900 will be leased from Ryder System (R - Free Report) and the remaining will be bought from Chanje Energy.
The additional fleet will be utilized by FedEx Express for commercial and residential pick-up and delivery services across California. Ryder is expected to provide vehicle-related support services to FedEx.
These vehicles, manufactured by FDG in Hangzhou, China, will help the company save on fuel costs and reduce global emissions. Notably, the acquisition supports FedEx’s “Reduce, Replace, Revolutionize” approach to sustainability while maximizing its operational efficiency at the same time. The vehicles are anticipated to aid FedEx to save approximately thousand gallons of fuel and remove 20 tons of emissions per vehicle each year. The maximum cargo capacity of these vehicles is around 6,000 pounds and when charged completely, these can travel more than 150 miles.
Notably, the company has taken the all-electric vehicles route to delivery services since 2009 in order to cut down global emissions and improve fuel efficiency. To this end, it targets a 50% improvement in FedEx Express vehicle fuel efficiency from the 2005 baseline by 2025.
Zacks Rank & Key Picks
FedEx carries a Zacks Rank 4 (Sell).
Some better-ranked stocks in the broader Transportation sector are Air France-KLM (AFLYY - Free Report) and Spirit Airlines (SAVE - Free Report) , both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Air France-KLM and Spirit Airlines have rallied more than 24% and 35%, respectively, in a year.
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Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
FedEx Corporation (FDX - Free Report) announced plans to expand its fleet by adding 1,000 Chanje V8100 electric delivery vehicles of which, 900 will be leased from Ryder System (R - Free Report) and the remaining will be bought from Chanje Energy.
The additional fleet will be utilized by FedEx Express for commercial and residential pick-up and delivery services across California. Ryder is expected to provide vehicle-related support services to FedEx.
These vehicles, manufactured by FDG in Hangzhou, China, will help the company save on fuel costs and reduce global emissions. Notably, the acquisition supports FedEx’s “Reduce, Replace, Revolutionize” approach to sustainability while maximizing its operational efficiency at the same time. The vehicles are anticipated to aid FedEx to save approximately thousand gallons of fuel and remove 20 tons of emissions per vehicle each year. The maximum cargo capacity of these vehicles is around 6,000 pounds and when charged completely, these can travel more than 150 miles.
Notably, the company has taken the all-electric vehicles route to delivery services since 2009 in order to cut down global emissions and improve fuel efficiency. To this end, it targets a 50% improvement in FedEx Express vehicle fuel efficiency from the 2005 baseline by 2025.
Zacks Rank & Key Picks
FedEx carries a Zacks Rank 4 (Sell).
Some better-ranked stocks in the broader Transportation sector are Air France-KLM (AFLYY - Free Report) and Spirit Airlines (SAVE - Free Report) , both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Air France-KLM and Spirit Airlines have rallied more than 24% and 35%, respectively, in a year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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