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Benzinga
Benzinga
Business
Shivani Kumaresan

UPS Tries eQuad Electric Cargo Bike For Deliveries: Reuters

UPS NYSE
  • United Parcel Service Inc (NYSE:UPS) tries implementing four-wheeled eQuad electric cargo bikes for deliveries in densely packed urban areas, Reuters reported.
  • The move is taken as a part of the package delivery giant’s push into electric vehicles.
  • The report added that the company is trialing around 100 bikes manufactured by British firm Fernhay in seven European markets.
  • eQuad has an electric-assisted top speed of around 25 kilometers and can haul up to 200 kilograms (441 lb) of packages. 
  • Reuters report further noted that UPS is also planning to launch trials in the U.S. and some Asian markets.
  • Price Action: UPS shares closed lower by 2.58% at $214.51 on Thursday.
  • Photo by MobiusDaXter via Wikimedia
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