UPS Invests in Arrival, Accelerates Fleet Electrification With Order of 10,000 Electric Delivery Vehicles
January 30, 2020 /3BL Media/ – UPS today said its venture capital arm, UPS Ventures, has completed a minority investment in Arrival, which makes electric vehicle (EV) platforms and purpose-built vehicles that offer a highly competitive value proposition when compared with both traditional internal combustion engine vehicles, as well as existing EVs. Along with the investment in Arrival, UPS also announced a commitment to purchase 10,000 electric vehicles to be built for UPS with priority access to purchase additional electric vehicles.
UPS will collaborate with Arrival to develop a wide range of electric vehicles with Advanced Driver-Assistance Systems (ADAS). The technology is designed to increase safety and operating efficiencies, including the potential for automated movements in UPS depots. UPS will initiate testing ADAS features later in 2020. Future vehicle purchases are contingent on successful tests of initial vehicles.