Ryder Signs First Customers to Multi-Year Electric Vehicle Contracts

Rhea-AI Summary

Ryder System, Inc. (NYSE: R) secures the first two Ryder ChoiceLease customers under the RyderElectric+ turnkey fleet solution. Land ‘N’ Sea Distributing and Servientrega International Inc. will use RyderElectric+ to navigate the electric vehicle landscape, with Ryder supporting charging and infrastructure. Land ‘N’ Sea is deploying the BrightDrop Zevo 600 and Ford E-Transit, while Servientrega will use BrightDrop Zevo 600 vehicles in South Florida.

Land ‘N’ Sea Distributing and Servientrega International Inc. Secure New Electric Cargo Vans as part of RyderElectric+

MIAMI--(BUSINESS WIRE)-- Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, secures its first two Ryder ChoiceLease customers under the RyderElectric+ turnkey fleet solution. Pompano Beach, Fla.-based Land ‘N’ Sea Distributing, the nation’s largest marine and recreation vehicle parts distributor, and Servientrega International Inc., a Bogota, Colombia-based parcel logistics company with operations in Miami, will be using RyderElectric+ to help them navigate the electric vehicle (EV) landscape. As part of the RyderElectric+ solution, Ryder will support the customers’ charging and infrastructure to enable the operation of the multiple light-duty electric cargo vans that are included in the agreements.

Ryder secures its first two Ryder ChoiceLease customers under the RyderElectric+ turnkey fleet solution. Ryder customers can add their own branding to the livery of the leased Ryder EVs. (Photo: Business Wire)

The engagement with both customers started with RyderElectric+ electrification advisory services. The RyderElectric+ team relied on data analysis, site assessments, range and payload needs, among other factors, to select the best vehicle and charging fits for the customers’ operations. These multi-year Ryder ChoiceLease agreements for multiple light-duty electric cargo vans will help each company begin to adopt EVs into their fleets and support their ongoing logistics needs.

“In working closely with our customers and EV technology providers, Ryder continues to innovate fleet management with efficient, low-carbon strategies that support the operational goals of our customers,” says Tom Havens, president of Fleet Management Solutions for Ryder. “The introduction of EVs to Ryder’s lease and rental fleet, and the simplicity of RyderElectric+, allows us to identify and provide EV solutions that fit the operational needs for companies such as Land ‘N’ Sea and Servientrega.”

As a long-standing Ryder customer, Land ‘N’ Sea is the first to lease both the BrightDrop Zevo 600 and Ford E-Transit through the recently announced RyderElectric+ EV solution. Land ‘N’ Sea will be deploying the full-service lease units in South Florida. To support its EV expansion, Land ‘N’ Sea also plans to install charging stations with the support of Ryder and charging partners.

“These electric vehicle additions to our fleet fit our needs well for several of our routes in terms of mileage, while the payload has plenty of capacity. RyderElectric+ gives us the comprehensive package we need to make EV adoption simple,” says Mike Conners, president of Land ‘N’ Sea Distributing. “Being able to work with our regular Ryder team and shop network makes this an easy transition.”

Through RyderElectric+, Servientrega aims to advance its commitment to reducing emissions across its truck fleet. The logistics company will be using BrightDrop Zevo 600 vehicles in South Florida to carry parcels that will be shipped to destinations in South America.

“Servientrega has had a commitment to lessen its impact on the environment for more than 30 years. Further reducing the emissions of our truck fleet has been made possible this year through Ryder’s offering of the BrightDrop electric vans,” adds Washington Rojas, executive manager of Servientrega International Inc. “Now we can cover all our routes from Homestead to Palm Beach, picking up more than 200 packages on a daily charge and with state-of-the-art technology supporting our drivers.”

RyderElectric+ provides electrification advisors, electric vehicles (EVs), chargers, telematics, and maintenance all for one price and from one point of contact. For more information about RyderElectric+, visit Electric Vehicles (ryder.com) or call 855-RYDER-EV (793-3738). For more information about Ryder’s electric vehicle offerings, visit Electric Cargo Van Rentals | Rent Electric Vans | Ryder.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including warehousing and distribution, e-commerce fulfillment, last-mile delivery, managed transportation, professional drivers, freight brokerage, full-service leasing, maintenance, commercial truck rental, and used vehicle sales to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, and Canada. In addition, Ryder manages nearly 260,000 commercial vehicles and operates approximately 300 warehouses encompassing more than 95 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmental stewardship, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.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, including our expectations with respect to electric vehicles and our customers’ operations and demands, 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20231205908559/en/

Ryder Media Contacts:

Jonathan Mayor, jonathan_c_mayor@ryder.com

Amy Federman, afederman@ryder.com

Source: Ryder System, Inc.

FAQ

What is the Ryder System, Inc. (NYSE: R) press release about?

The press release announces Ryder System, Inc. securing its first two Ryder ChoiceLease customers under the RyderElectric+ turnkey fleet solution.

Who are the two customers secured by Ryder System, Inc. (NYSE: R)?

The two customers are Land ‘N’ Sea Distributing and Servientrega International Inc.

What vehicles will Land ‘N’ Sea Distributing deploy?

Land ‘N’ Sea Distributing will deploy the BrightDrop Zevo 600 and Ford E-Transit.

Where will Servientrega International Inc. use the electric vans?

Servientrega International Inc. will use BrightDrop Zevo 600 vehicles in South Florida.

What support does Ryder provide through RyderElectric+?

Ryder provides support for charging, infrastructure, and comprehensive EV solutions through RyderElectric+.