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PACCAR (PCAR) to Showcase 3 Next-Gen Vehicles at CES 2020

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PACCAR Inc. PCAR will exhibit three autonomous and alternative powertrain commercial vehicles, namely a level 4 autonomous Kenworth T680, a battery-electric Peterbilt model 520EV and a battery-electric Kenworth K270E, at the 2020 Consumer Electronics Show (CES). Peterbilt and Kenworth, subsidiaries of PACCAR, have designed these trucks for a range of customer applications, including over-the-road goods transportation, refuse collection and urban distribution.

While the Kenworth T680 autonomous truck shows PACCAR's commitment to the advancement of self-driving commercial vehicles, the battery-electric Peterbilt model 520EV trucks gather waste on residential and commercial roads, running on a single charge for a full day. Currently, model 520EV trucks are being field tested by customers and delivery of the same is expected in 2021.

Further, the Kenworth K270E battery-electric vehicle is a medium-duty commercial vehicle, with a range of 100 to 200 miles, ideal for local pick-up and delivery operations. Kenworth expects to deliver these trucks to customers in 2020.

PACCAR invests in next-generation technology across its range of industry-leading transport solutions that are environmentally friendly and at the same time, improve customers’ operations.

Meanwhile, Peterbilt also announced its partnership with Dana Incorporated DAN, in order to produce electric powertrains for Peterbilt Model 220EV battery electric vehicles.

In its 220EV chassis, Peterbilt will integrate the Spicer Electrified e-propulsion system from Dana. The truck will feature a range of 100 to 200 miles, with two battery packs and an on-board charger. These ultra-modern battery packs can be recharged in about an hour using the DC-fast-charging system of the vehicle, making the 220EV suitable for local pick-up and delivery, as well as short regional haul operations.

PACCAR is well positioned in key markets on the back of R&D and capex investments, and a strong cash flow which has enabled the company to invest $6.6 billion in new and expanded facilities, innovative products and new technologies in the past decade.

Zacks Rank & Other Stocks to Consider

PACCAR currently carries a Zacks Rank #2 (Buy). The stock has outperformed the industry it belongs to over the past year. Its shares have appreciated 39.9% compared with the industry’s rise of 25.2%.

Other top-ranked stocks in the Auto-Tires-Trucks sector include Tesla, Inc. (TSLA - Free Report) and SPX Corporation SPXC, each carrying a Zacks Rank of 2, at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Tesla has an estimated earnings growth rate of 1509.76% for 2020. The company’s shares have surged 42.7% in a year’s time.

SPX has an expected earnings growth rate of 8.09% for the current year. The stock has appreciated 71.7% in the past year.

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