Maersk Orders For 110 Volvo VNR Electric Trucks

  • Volvo AB's VLVLY Volvo Trucks in North America won an order for 110 Volvo VNR Electric trucks from the global logistics company A. P. Moller Maersk A/S AMKBY, adding to a previous order of 16 vehicles of the same model. Financial terms not disclosed.
  • The order was placed by the Performance Team, part of the Maersk Group.
  • The first electric trucks will be in operation in 2Q22, with all 126 trucks scheduled for deployment by 1Q23.
  • The Class 8 electric trucks will be used in California for various transport assignments, serving port drayage and warehouse distribution routes.
  • The Volvo VNR Electric has an operating range of up to 440 km and energy storage of up to 565kWh.
  • "Volumes are still low, but we see rapidly growing interest in Europe, North America and also other parts of the world. In 2021 we took orders, including letters of intent to buy, for more than 1,100 trucks in over 20 countries," said Roger Alm, President of Volvo Trucks.
  • Price Action: VLVLY shares are trading higher by 4.74% at $19.88 on the last check Tuesday.
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