Eicher Motors trade in green on Amazon vows to buy 1,000 electric trucks

Shares of Eicher Motors Limited traded 0.5 percent higher at Rs 3,413 around 9:20am on August 10 after Amazon committed to buy 1,000 electric trucks, signalling a major shift towards eco-friendly deliveries.

As part of this deal, Eicher Motors, through its subsidiary VE Commercial Vehicles Limited (VECV), will supply the e-commerce giant with a fleet of electric trucks for last-mile deliveries. With an emphasis on zero-emission solutions, this initiative aligns with Amazon’s broader mission to achieve net-zero carbon emissions by 2040, the company said on August 9.

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In the initial phase, Amazon will purchase 50 trucks for major hubs like Delhi, Manesar and Gurgaon. The electric trucks, which come in various deck lengths ranging from 8 feet to 24 feet, are equipped with advanced digital capabilities and customisable cargo stacking arrangements.

“Fast and slow charging options will be provided to meet the needs of specific operations. The service solution also factors in the availability of charging infrastructure, operational requirements, charging time constraints, battery capacity, and overall energy management strategies of the fleet,” stated a joint statement by the companies.

“Our collaboration with Amazon for e-commerce deliveries marks a significant move towards sustainable transport solutions. By introducing these electric trucks, we are committed to fostering a zero-emission transport ecosystem,” Vinod Aggarwal, CEO of VECV, said.

In the first quarter, the auto major’s consolidated net profit zoomed 50 percent to Rs 918.34 crore on the back of softening commodity prices, inventorisation benefits of its product lines as well as positive volume growth in the bike-making arm Royal Enfield (RE) in the first quarter of the financial year 2023-2024.

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