Walmart Expands Transportation Partnerships To Reduce Emissions
Walmart Inc (NYSE: WMT) said it is transforming its transportation fleet through collaborations with manufacturers of three different fuel types – renewable natural gas, hydrogen, and electric.
The retail giant will partner with Cummins Inc (NYSE: CMI) and will receive new 15-liter Natural Gas Engines and add them to a few of its trucks.
It has also secured agreements with Chevron Corp (NYSE: CVX) to supply its trucks with CNG linked to renewable natural gas.
The company also plans to test capabilities and performance of Capacity’s second-generation hydrogen fuel cell yard truck.
The move forms part of Walmart’s 2040 goal to achieve zero emissions across its global operations.
Walmart’s fleet in the U.S. consists of 12,000 drivers, 10,000 tractors, and 80,000 trailers, driving 1.1 billion miles every year.
Later this summer, WMT aims to run a battery-electric day cab proof of concept with Freightliner’s eCascadia and Nikola Corp (NASDAQ: NKLA) Tre BEV out of a distribution center in Fontana, California.
Price Action: WMT shares closed lower by 1.34% at $123.20 on Tuesday.
Photo Via Company
See more from Benzinga
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
