Truck leasing and rental company Ryder Systems Inc (R) - Get Report announced on Monday that would become the sole sales partner for Chanje, a California-based maker of electric trucks, aiming to debut its first commercial vehicle at the end of 2017, Reuters reports.
Shares of Ryder were rising over 1.7% during early Monday morning trading.
Ryder, which is the first U.S. company to offer on lease electric trucks, is looking to make commercial vehicles more cost efficient and accessible to its customers.
A select number of the electric trucks will also be added to Ryder's commercial rental fleet. The first trucks made by Chanje will be an all-electric, delivery style van equipped to haul up to 6,000 pounds and up to 580 cubic feet of cargo, with zero tailpipe emissions.
More of What's Trending on TheStreet: