FedEx Corp. is planning to make its entire fleet of delivery vans fully electric by 2040, the company said Wednesday.
The move is part of an effort to become carbon neutral that same year, with the company planning to plow $2 billion into the global effort.
The Memphis, Tenn.-based company will take a phased approach to electrifying its fleet. By 2025, 50 percent of its purchases of new delivery vehicles will be electric, rising to 100 percent of all purchases by 2030.
FedEx has more than 200,000 vehicles in its fleet.
In January, the company announced plans to buy 500 electric vans from General Motors' new commercial venture, BrightDrop.
Jeremy Carroll of Automotive News contributed to this report.