Amazon is investing more than 1 billion euros in its sprawling electric vehicle fleet across Europe over the next five years. Amazon will add thousands more electric lorries, vans, and cargo bikes to the growing e-fleet.
The massive online retailer will invest £300 million in the United Kingdom, the equivalent of about $330 million USD. Amazon plans to have as many as 700 electric HGVs by 2025. There are currently only five in the UK.
Amazon plans to triple its electric van fleet across Europe to 10,000. Hundreds of fast charging points for electric vehicles are to be installed at the group’s European warehouses and delivery hubs to allow the new low-carbon fleet to charge in about two hours.
More “micromobility hubs” will also be built in more European cities. Amazon has hubs in 20 cities in Europe that enable deliveries by carbo bikes as well as foot and is looking to double that.
The investment plan comes amid a boom in online shopping and deliveries since the Covid pandemic. The Covid boom in shopping added massively to the profits of Amazon, founded by billionaire Jeff Bezos.
The commitment to electric vehicles also comes amid skyrocketing fuel costs ever since Russia invaded Ukraine. Russia’s war has pushed companies to look at alternative modes of transport.
Amazon said it hoped by taking the step it would encourage other retailers to invest in electric vehicles and help spur the building of more public charging infrastructure.
The announcement also comes in the run-up to the annual United Nations climate conference, COP27, being held this year in Egypt at the beginning of November.
There is mounting pressure on companies to shift away from traditional fossil fuels and slash emissions.
The transportation industry is one of the biggest emitters, and one of the hardest to decarbonize so far. Significant investments are vital in reducing emissions and meeting net zero goals. However, many companies are continuing to prioritize huge profit margins rather than commit to slashing emissions.
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