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Volvo Bags Order For 16 VNR Electric Class 8 Trucks For Undisclosed Sum

Volvo Bags Order For 16 VNR Electric Class 8 Trucks For Undisclosed Sum
  • Volvo AB (OTC: VLVLY) (OTC: VOLVF) has received an order for 16 Volvo VNR Electric Class 8 trucks from logistics firm Performance Team, an A. P. Moller Maersk A/S (OTC: AMKBY) company. The financial terms of the order were not disclosed.
  • The VNR Electric model from Volvo Trucks North America is the first zero-tailpipe emission, battery-electric Class 8 truck in Performance Team's fleet, which will be on the road by year-end. 
  • All 16 vehicles will be carrying regional loads daily to customers across Southern California.
  • The acquisition of the new Volvo VNR Electric models is part of Maersk's Environment Social Governance strategy to decarbonize logistics.
  • The purchase of the VNR Electric models is through Volvo Trucks' dealership TEC Equipment.
  • Price Action: VOLVF shares closed higher by 1.11% at $22.75, and AMBKY lower by 2.26% at $14.24 on Tuesday.

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