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Amazon plans to spend nearly $970 million funding the purchase of electric cars for their fleet in Europe

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Amazon announced Monday it plans to spend $972 million on electric cars for its European fleet.

In 2025, Amazon will operate at least 1,500 long-haul electric trucks and 10,000 electric delivery vans. This is part of the company’s plan to reduce carbon emissions by 2040. Additionally, the investment will increase the company’s fleet to 3,000 vans already in use.

Amazon plans to deliver more packages by bike and on foot using “micro-mobility hubs” located in central locations. The company said it has hubs in 20 European cities, including Paris, Munich and London.

Amazon stated that the new hubs in Europe’s densely populated cities help it deliver packages more sustainably. The statement also stated that the company expects to add 2x more hubs in 2025.

Amazon’s funding will help encourage more public charging stations across the transportation industry. This will lead to increased innovation in the entire industry and more quickly decrease emissions in the broader transportation sector.

To reduce carbon emissions in this area of their business, Amazon CEO Andy Jassy stated that they would need to make a substantial investment in new technology. In addition to electric cars and bikes, the company intends to utilize long-haul trucks and vans powered by electricity.

Rivian, an electric truck startup, received funding from Amazon. They later partnered with Mercedes to produce vans in Europe. Many other automakers are planning to increase production of electric delivery vehicles.

Companies with regularly scheduled delivery vehicles can easily recharge them nightly at their depot or warehouse.

Elon Musk’s Tesla will deliver its first electric semi-truck in December. The CEO said this last week; long-distance routes make it hard to recharge the electric vehicles. Consequently, people planning to use an electric semitruck need to be prepared for a more challenging ride.

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