United Parcel Service (UPS - Get Report) announced Tuesday aggressive sustainability goals geared toward using more renewable energy, alternative fuels and advanced technology in its fleet of delivery trucks.
The company wants to source 25% of its electricity from renewable resources by 2025, up dramatically from the 0.2% of its electricity that came from renewable resources in 2016. It also plans to reduce greenhouse gas emissions by 12% by 2025.
UPS operates 8,300 alternative fuel and advanced technology vehicles. About 25% of vehicles purchased by 2020 will be alternative fuel or advanced technology, up from 16% in 2016.
What's Hot On TheStreet
A key Walmart business springs back to life: Walmart (WMT - Get Report) is starting to see long-awaited sales growth at its U.K. Asda division as Britons shift their shopping habits towards food purchases with a slump in consumer confidence and surging inflation, TheStreet's Lisa Botter reports. Sales at Asda rose by 2.2% for the 12-weeks ended June 18, well ahead of the 0.9% pace notched in the 12 weeks to May 21, according to new data from research firm Kantar.
Different strategies emerge in driver-less cars: Alphabet Inc.'s (GOOGL - Get Report) deal with rental car giant Avis Budget Group Inc. (CAR - Get Report) to have Avis manage some self-driving test cars developed by Alphabet's Waymo unit and Fiat Chrysler (FCAU - Get Report) feels a little overblown, writes TheStreet's Eric Jhonsa. The deal only covers test cars deployed in one metro area (Phoenix, Ariz.), and isn't exclusive, Jhonsa points out.
Meanwhile, Apple Inc.'s (AAPL - Get Report) deal with Avis rival Hertz Global Holdings Inc. (HTZ - Get Report) feels even smaller. Apple, which has reportedly been testing a half-dozen self-driving cars around the San Francisco Bay Area, is just leasing a small number of Lexus RX450h SUVs from Hertz, with the idea of retrofitting them with self-driving test systems.
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Editor's Pick: Originally published June 27.
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