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Benzinga

Business

Shivani Kumaresan

Penske Truck Leasing Orders 750 All-Electric Ford E-Transit Cargo Vans

Penske Ford NYSE PAG Ford Motor Co Penske Automotive Group Inc United States

Penske Truck Leasing has ordered 750 all-electric Ford Motor Co (NYSE:F) E-transit cargo vans. The financial terms were not disclosed.
Penske Truck Leasing is owned by Penske Corporation, Penske Automotive Group Inc (NYSE:PAG), and Mitsui & Co Ltd (OTC:MITSY).
The company will take delivery of its first several vehicles in the next several weeks.
Penske's first Ford E-Transit vehicles will be made available in Southern California, with other locations around the U.S. following suit later in the year.
The Ford E-Transit all-electric cargo van has an estimated range of 126 miles.
"We're excited to help bring these new vehicles to market as both a rental and full-service lease option for our customers," said Art Vallely, president of Penske Truck Leasing.
Price Action: PAG shares are trading lower by 0.16% at $96.40 on the last check Monday.

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