PACCAR Inc. (PCAR - Free Report) 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 - Free Report) , 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 - Free Report) , 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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