Amazon to invest $1 billion in European EV fleet

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STORY: Amazon is to invest close to $1 billion over the next five years in electric vans, trucks and low-emission hubs in Europe.

The online giant said Monday (October 10) that the move was aimed at accelerating its drive to hit net zero emissions.

Amazon says its electric van fleet in Europe will more than triple as a result - from 3,000 now, to more than 10,000 by 2025.

Its existing EVs delivered over 100 million packages in Europe last year.

Amazon’s largest electric vehicle order so far is for 100,000 vans from U.S. startup Rivian.

It’s one of several new firms racing to develop such vehicles, amid competition from traditional automotive names like General Motors and Ford.

Amazon also hopes to purchase more than 1,500 electric heavy goods trucks.

The retailer wants to spur the development of EV charging infrastructure too.

It will invest in thousands of charging points at facilities across Europe as part of the move.

Overall, the company plans to hit net-zero carbon by 2040.