Volvo Bags Order For 16 VNR Electric Class 8 Trucks For Undisclosed Sum

Author: Akanksha | September 01, 2021 07:10am

Volvo AB (OTC:VLVLY) (OTC:VOLVF) has received an order for 16 Volvo VNR Electric Class 8 trucks from logistics firm Performance Team, an A. P. Moller Maersk A/S (OTC:AMKBY) company. The financial terms of the order were not disclosed.
The VNR Electric model from Volvo Trucks North America is the first zero-tailpipe emission, battery-electric Class 8 truck in Performance Team's fleet, which will be on the road by year-end.
All 16 vehicles will be carrying regional loads daily to customers across Southern California.
The acquisition of the new Volvo VNR Electric models is part of Maersk's Environment Social Governance strategy to decarbonize logistics.
The purchase of the VNR Electric models is through Volvo Trucks' dealership TEC Equipment.
Price Action: VOLVF shares closed higher by 1.11% at $22.75, and AMBKY lower by 2.26% at $14.24 on Tuesday.