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Ryder Expands Leadership in Commercial Electric Vehicles, Places Reservation for Additional 500 Chanje Electric Vans

06/07/18

MIAMI--(BUSINESS WIRE)-- Ryder System, Inc. (NYSE:R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, announced today that it has reserved 500 new Chanje Energy medium-duty electric panel vans, expanding its North American electric commercial truck rental and ChoiceLease fleet. The reservation will be executed as lease agreements for the Chanje electric vehicles (EVs) are finalized. Ryder is the exclusive sales channel and service partner for Chanje and its medium-duty EV fleet for which Ryder is offering truck leasing and preventive maintenance solutions as part of Ryder’s ChoiceLease and SelectCare fleet maintenance portfolio.

TWEET THIS: @RyderSystemInc reserves 500 @ChanjeEnergy electric vehicles intended for its lease & rental fleet. #EVs #RyderAdvancedVehicles

“Ryder continues to see broadening interest in EVs from businesses of various sizes and industries, and especially from those companies in the parcel, final mile, or beverage delivery space. Additionally, there’s interest from customers who have daily return to base routes of 40 to 100 miles and in markets with incentives available for electric vehicles,” said Dennis Cooke, President, Global Fleet Management Solutions for Ryder. “Companies continue to identify the potential long-term cost, environmental, and efficiency benefits of EVs. We’re proud to expand our relationship with Chanje and expect additional business announcements based on our sales pipeline. This latest announcement with Chanje is one more way we are demonstrating our commitment to maximizing the performance of our customers’ fleets, while providing the flexibility and convenience to implement EVs into their operations.”

Ryder is continually monitoring emerging fleet technologies and works closely with the technology providers and equipment manufacturers building innovative features to provide feedback around functionality, usability, and adaptability.

The Chanje all-electric large delivery style van is equipped to haul up to 6,000 pounds and up to 580 cubic feet of cargo, all with zero vehicle exhaust emissions and class-leading, 100-mile range on a single charge. Ryder has equipped several maintenance facilities across the San Francisco, Los Angeles, San Diego, Sacramento, and San Jose, Calif. markets, as well as the Chicago and New York markets, to meet the service and charging requirements for commercial EVs. Chanje vehicles are the first to be designed from the ground up as an electric truck platform, helping set industry standards for electric and high-quality mass production.

“We are pleased to partner with Ryder to meet its customers’ evolving performance, cost, and sustainability goals and collectively shape the future of the industry,” said Bryan Hansel, founder & CEO of Chanje.

About Ryder

Ryder is a FORTUNE 500® commercial fleet management, dedicated transportation, and supply chain solutions company. Ryder’s stock (NYSE:R) is a component of the Dow Jones Transportation Average and the S&P MidCap 400® index. Ryder has been named among FORTUNE’s World’s Most Admired Companies, and has been recognized for its industry-leading practices in third-party logistics, environmentally-friendly fleet and supply chain solutions, and world-class safety and security programs. The Company is a proud member of the American Red Cross Disaster Responder Program, supporting national and local disaster preparedness and response efforts. For more information, visit www.ryder.com, and follow us on our Online Newsroom and social media pages: Facebook, LinkedIn, Twitter, and YouTube.

About Chanje

Chanje is a California-based, privately held electric vehicle and energy solutions company that specializes in the last mile industry. Chanje is led by a diverse group of automotive industry experts and clean energy entrepreneurs. The company’s vision is to drive the evolution of sustainable solutions that improve the last mile. Chanje introduced its first vehicle in 2017 and is the first company in North America able to deliver large scale fleets of commercial electric trucks immediately. Chanje will subsequently introduce turnkey energy infrastructure solutions and a full range of EVs including trucks, delivery vans, and shuttle buses in a variety of lengths and capacities. For more information, please visit: www.chanje.com.

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Ryder System, Inc.
Jonathan Mayor, 305-500-3161
Jonathan_C_Mayor@ryder.com
or
Claudia Panfil, 305-500-3668
Claudia_Panfil@ryder.com

Source: Ryder System, Inc.

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