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BrightDrop Lands Another Big EV Agreement With Walmart

BrightDrop also announced an expanded deal with FedEx Wednesday.
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BrightDrop, GM's  (GM) - Get Free Report EV van delivery brand, landed another big fish Wednesday, announcing Walmart WMT signed an agreement to reserve 5,000 vehicles from the company. 

Walmart reserved BrightDrop's EV600 and smaller EV410 delivery vans to support the company's last mile delivery network. The company has set a goal of operating a zero-emissions logistics fleet by 2040. 

BrightDrop also announced that it is expanding its agreement with shipping company FedEx FDX to reserve 2,000 electric delivery vans "over the next few years."

"BrightDrop's mission is to decarbonize the world’s deliveries. We leverage the best of two worlds, the innovation, agility, and focus of a technology start-up with the engineering and manufacturing might of General Motors,” said BrightDrop CEO Travis Katz. 

FedEx initially signed an agreement for BrightDrop to deliver 500 electric light commercial vehicles in 2021. The company was the first customer to receive the EV600s.

"At FedEx, transforming our pickup and delivery fleet to electric vehicles is integral to achieving our ambitious sustainability goals announced earlier this year," Mitch Jackson, FedEx's Chief Sustainability Officer said. 

Widespread EV Adoption

Concerns about climate change is fueling the electric vehicle revolution, and FedEx and Walmart aren't the only big companies trading in their gas fleets for electric alternatives. 

EV maker Rivian  (RIVN) - Get Free Report has a contract to produce 100,000 vehicles for Amazon AMZN by 2030. PepsiCo PEP expects to start receiving electric trucks from Tesla  (TSLA) - Get Free Report this quarter after the company first announced it was buying 100 Tesla Semi Trucks about four years ago. 

In 2020, UPS ordered 10,000 vehicles from British EV maker Arrival. The company said it expects the order to be filled between 2020 and 2024.