Daimler Delivers Light, Electric Trucks, Adds UPS as Client
Daimler AG’s DDAIF Mitsubishi Fuso Truck and Bus Corporation (MFTBC), part of the company’s Trucks business unit, has globally unveiled the FUSO eCanter in New York City. This newly-launched FUSO eCanter is the first series of produced all-electric light-duty trucks and will be sold to customers across the United States, Europe and Japan.
Positive news is that in the next two years, MFTBC plans to deliver 500 units of this series to its clients. Also, truck production is expected to start in 2019 on a larger scale.
Daimler is the first among its competitors to produce and commercialize a series of all-electric trucks. The new all-electric series has been launched in the market after years of testing and assurance of parts, services and warranty through FUSO dealership network.
Daimler AG Price and Consensus
Daimler AG Price and Consensus | Daimler AG Quote
Launch of FUSO eCanter is in line with the growing demand for products to meet carbon dioxide (CO2) emission level and offer a cheaper alternative to combustion engines.
Daimler also reported that its first U.S. commercial customer for newly unveiled series is United Parcel Service, Inc. UPS. The zero-emission, zero-noise eCanter trucks will therefore add to the existing 8,500 alternative drivetrain vehicles of UPS.
Price Performance
Daimler’s shares have rallied 6.8% over year to date, outperforming the 2.1% increase of the industry it belongs to.
Zacks Rank & Other Key Picks
Daimler currently flaunts a Zacks Rank #1 (Strong Buy).
Other top-ranked automobile stocks are Toyota Motor Corporation TM and Allison Transmission Holdings, Inc. ALSN, also sporting the same bullish rank of Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Toyota has a long-term growth rate of 7%.
Allison Transmission has a long-term growth rate of 10%.
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