Ryder’s Order for 1,000 Chanje Commercial Electric Vehicles, to be Deployed by FedEx, Enables Broader Adoption of EVs in the U.S. Market

MIAMI--(BUSINESS WIRE)--Ryder System, Inc. (NYSE: R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, announces today the largest commercial electric vehicle (EV) purchase in the United States, which enables broader adoption of commercial EV technology on a large scale.

Together with an order of 1,000 medium-duty electric panel vans by Chanje Energy Inc., Ryder and FedEx Corp. have now executed a truck leasing and preventive maintenance agreement primarily for Ryder’s ChoiceLease fleet. The purpose-built electric vehicles will be operated by FedEx Express for commercial and residential pick-up and delivery services in the U.S. The fleet is expected to be deployed throughout California over the next two years.

“With our focus on innovation and technology, combined with our entry into the EV market more than a year ago, we’ve made it easy for customers such as FedEx to adopt sustainable, advanced vehicle technologies,” says Dennis Cooke, President - Global Fleet Management Solutions for Ryder. “We continue to see broadening interest in EVs from businesses of various sizes and industries looking to outsource – especially in the final mile delivery space where a smaller, more environmentally-friendly vehicle is required.”

FedEx will have access to Ryder’s network of 800 facilities across North America to support its Chanje electric vehicle fleet, which will help maximize uptime, lower costs, and keep the FedEx fleet moving. Ryder is the exclusive sales channel, service, and warranty partner for Chanje and its medium-duty EVs, also providing truck leasing and preventive maintenance solutions to customers.

The Chanje all-electric large delivery style van is equipped to haul up to 6,000 pounds and up to 675 cubic feet of cargo, all with zero vehicle exhaust emissions and up to 150-mile range on a single charge. The Chanje EVs are configured to match the current shelving, specifications, and workflow that FedEx Express delivery drivers use today, without the emissions, noise, or maintenance associated with gas or diesel vehicles.

“Ryder is intently focused on emerging fleet technologies and works closely with new equipment manufacturers and technology providers,” says Chris Nordh, Ryder Senior Director of Advanced Vehicle Technology. “These actions enable the new equipment manufacturers and technology providers to springboard into the North American market and with Ryder there to ensure safe, high quality, and cost effective service, maintenance, and warranty for advanced vehicle technology solutions.”

To learn more about Ryder’s Advanced Vehicle Technology solutions, visit https://ryder.com/solutions/fleet-leasing/advanced-vehicle-technology.

About Ryder

Ryder is a FORTUNE 500® commercial fleet management, dedicated transportation, and supply chain solutions company. Ryder’s stock (NYSE:R) is a component of the Dow Jones Transportation Average and the S&P MidCap 400® index. Ryder has been named among FORTUNE’s World’s Most Admired Companies, and has been recognized for its industry-leading practices in third-party logistics, environmentally-friendly fleet and supply chain solutions, and world-class safety and security programs. Inbound Logistics magazine has included Ryder in its “Green Partners” listing for 10 years in a row. Ryder was also recognized by the U.S. Environmental Protection Agency (EPA) with a 2014 SmartWay Affiliate Challenge award and SmartWay Excellence Awards in 2017, 2014, and 2013. Ryder is a charter member of the NGV Fleet Forum and a member of the Department of Energy’s National Clean Fleets partnership. Ryder is also a recipient of the 2011 NGV Achievement Award. A member of the American Red Cross Disaster Responder Program, Ryder is proud to support national and local disaster preparedness and response efforts. For more information, visit www.ryder.com, and follow us on our Online Newsroom and social media pages: Facebook, LinkedIn, Twitter, and YouTube.

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Jonathan Mayor
(305) 500-3161
Jonathan_C_Mayor@ryder.com

Amy Federman
(305) 500-4989
Afederman@ryder.com