Cemex Unveiled the First Fully Electric Ready-Mix Truck in the Middle East During COP28 in Dubai

Rhea-AI Summary

Cemex (CX) unveiled the first fully electric ready-mix truck in the Middle East during COP28 in Dubai. The truck is fully operational, equipped with a state-of-the-art 350kWh battery, and has the capacity to transport a full load of concrete. Cemex is actively collaborating with partners and manufacturers to scale hybrid and zero-emission vehicles, while also adding trucks powered by renewable diesel and natural gas to reduce carbon emissions in the short term.

Positive

• Cemex unveiled an innovative fully electric ready-mix truck, showcasing their commitment to sustainable transportation solutions.
• The truck's 350kWh battery allows it to complete a full workday with a single recharge, demonstrating its efficiency and practicality.
• Cemex's collaboration with partners and manufacturers to scale long-term solutions for hybrid and zero-emission vehicles reflects their proactive approach to environmental sustainability.

Negative

• The transition to heavy-duty electric vehicles at scale may take time, posing a challenge for immediate carbon emission reduction.
• The reliance on transitional technologies like renewable diesel and natural gas may not provide a long-term solution to carbon emissions.
• The cost and infrastructure required for widespread adoption of hybrid and zero-emission vehicles may present financial and logistical challenges for Cemex.

MONTERREY, Mexico & DUBAI, United Arab Emirates--(BUSINESS WIRE)-- This week, during COP28 in Dubai, Cemex unveiled the first fully electric, zero-emissions ready-mix truck in the Middle East.

Cemex unveiled the first fully electric ready-mix truck in the Middle East during COP28 in Dubai. (Photo: Business Wire)

The truck is fully operational and has the capacity to transport a full load of concrete. It is equipped with a state-of-the-art 350kWh battery which allows it to complete an average full workday with a single recharge.

Cemex is actively collaborating with partners and manufacturers to discover, pilot, learn, and scale the long-term solutions needed for hybrid and zero-emission vehicles to be available at scale.

At the same time, Cemex is adding trucks powered by renewable diesel and natural gas which have a carbon footprint that is 70% and 25% lower than regular diesel, respectively. These critical transitional technologies will enable a reduction in carbon emissions in the short term as heavy-duty electric vehicles become viable at scale.

About Cemex

Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: www.cemex.com

Except as the context otherwise may require, references in this press release to “Cemex,” ”we,” ”us,” ”our,” refer to Cemex, S.A.B. de C.V. (NYSE: CX) and its consolidated subsidiaries. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Cemex intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect Cemex’s current expectations and projections about future events based on Cemex’s knowledge of present facts and circumstances and assumptions about future events, as well as Cemex’s current plans based on such facts and circumstances, unless otherwise indicated. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from Cemex’s expectations, including, among others, risks, uncertainties, and assumptions discussed in Cemex’s most recent annual report and detailed from time to time in CEMEX’s other filings with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to Cemex’s expectations, expected results, and/or the project and investment referred in this press release not producing the expected benefits and/or results. Forward-looking statements should not be considered guarantees of future performance, nor the results or developments are indicative of results or developments in subsequent periods. These factors may be revised or supplemented, and the information contained in this press release is subject to change without notice, but Cemex is not under, and expressly disclaims, any obligation to update or correct this press release or revise any forward-looking statement contained herein, whether as a result of new information, future events or otherwise, or to reflect the occurrence of anticipated or unanticipated events or circumstances. Any or all of Cemex’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

There is currently no single globally recognized or accepted, consistent, and comparable set of definitions or standards (legal, regulatory, or otherwise) of, nor widespread cross-market consensus i) as to what constitutes, a ‘green’, ‘social,’ or ‘sustainable’ or having equivalent-labelled activity, product, or asset; or ii) as to what precise attributes are required for a particular activity, product, or asset to be defined as ‘green’, ‘social,’ or ‘sustainable’ or such other equivalent label; or iii) as to climate and sustainable funding and financing activities and their classification and reporting. Therefore, there is little certainty, and no assurance or representation is given that such activities and/or reporting of those activities will meet any present or future expectations or requirements for describing or classifying funding and financing activities as ‘green’, ‘social’, or ‘sustainable’ or attributing similar labels. We expect policies, regulatory requirements, standards, and definitions to be developed and continuously evolve over time.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205492588/en/

Media Relations

Jorge Pérez

+52 (81) 8259-6666

jorgeluis.perez@cemex.com

Source: Cemex

FAQ

What did Cemex unveil during COP28 in Dubai?

Cemex (CX) unveiled the first fully electric ready-mix truck in the Middle East.

What is the capacity of the electric ready-mix truck?

The truck has the capacity to transport a full load of concrete.

What is the battery capacity of the electric ready-mix truck?

The truck is equipped with a state-of-the-art 350kWh battery.

How is Cemex collaborating with partners and manufacturers for sustainable transportation solutions?

Cemex is actively collaborating to scale long-term solutions for hybrid and zero-emission vehicles, while also adding trucks powered by renewable diesel and natural gas to reduce carbon emissions in the short term.