Verizon electrifying Rhode Island fleet of service vehicles

Rhea-AI Summary

Verizon is electrifying its service vehicle fleet in Smithfield, Rhode Island, deploying $4.4 million on 40 Ford eTransit vans and 5 Ford Lightning trucks with charging stations. This aligns with their goal to achieve net-zero operational emissions by 2035, demonstrating a commitment to sustainability. The move is part of a broader EV rollout plan across New England and the Mid-Atlantic regions in line with the company's data-driven approach for EV fleet planning.

Positive

• Verizon's commitment to achieving net-zero operational emissions by 2035 through electrifying its fleet showcases a dedication to sustainability.

• Investing in electric vehicle technology demonstrates Verizon's commitment to clean energy and reducing emissions.

• Rolling out electric vehicles in Rhode Island aligns with the state's clean energy goals and contributes to a cleaner environment.

• Data-driven EV fleet planning based on analytics helps optimize deployment, charging infrastructure, and maintenance.

• Verizon's move towards electric vehicle adoption supports the growth of EVs in the market, expected to reach 31% by 2050, according to the U.S. Energy Information Administration.

Negative

• Transitioning to electric vehicles involves significant upfront costs, such as the $4.4 million deployment in Smithfield, impacting short-term financials.

• The maintenance and storage of electric vehicles may require additional resources and training compared to traditional vehicles, potentially increasing operational expenses.

• While beneficial for the environment, the transition to electric vehicles may face challenges with charging infrastructure availability and compatibility in remote or underserved areas.

• Fluctuating energy prices and availability of renewable energy sources may impact the operational costs of maintaining an electric vehicle fleet.

• The shift to electric vehicles may require adjustments in workflow and operational processes, potentially leading to temporary disruptions or inefficiencies.

• Smithfield, Rhode Island, garage to deploy electric fleet and charging infrastructure for Fios vehicles.
  
• Deployment part of Verizon’s goal to achieve net-zero operational emissions by 2035.
• Verizon operates one of the largest private fleets in the United States.
  

SMITHFIELD, R.I., May 13, 2024 (GLOBE NEWSWIRE) --  Verizon is powering its sustainability commitments by rolling out its first electric fleet in Smithfield, Rhode Island.

The Smithfield Garage Work Center (GWC) is the first Verizon garage in the nation to transition to a nearly fully electric fleet. The $4.4 million deployment includes 40 Ford eTransit vans and 5 Ford Lightning trucks accompanied by 25 two-port level 2 charging stations and 2 DC Fast Charging Stations, which will be used by Fios technicians serving Verizon customers in the northern Providence region.

“We are thrilled to be leading the charge in electrifying our fleet,” said Jerry Karnick, SVP Corporate Assets, Environment, Health & Safety at Verizon. “Verizon’s green fleet will play a pivotal role in achieving our sustainability goals, aiming to achieve a 53% reduction in our operational emissions by 2030 and operational net-zero emissions by 2035.”

"This is a tremendous win for our state and a major step forward in the future of transportation. Verizon's decision to invest in electric vehicle technology in Rhode Island is a testament to both of our commitments to clean energy," said Rhode Island Governor Daniel McKee. "This deployment will help us reduce emissions on our roads and communities, and we are proud to be partners with Verizon in building a cleaner, brighter future."

Verizon is planning additional electric vehicle (EV) rollouts this year in GWCs across the New England and Mid-Atlantic regions.

Verizon started its EV fleet implementation planning in 2021 by evaluating data and analytics from the Verizon Connect fleet management software platform that runs on nearly all Verizon vehicles and assets. The data derived from Verizon Connect regarding miles driven, vehicle wear and tear, and vehicle tracking, location, and utilization informed Verizon’s EV planning decisions, including: the number of EVs to be deployed in each rollout; the type, extent and location of charging infrastructure; EV maintenance and storage, and more.

EVs are becoming a significant component of vehicle fleets and are expected to grow to 31 percent of the market, or about 672 million vehicles, by 2050, according to the U.S. Energy Information Administration.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed in 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $134.0 billion in 2023. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, and security.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Ilya Hemlin
Ilya.Hemlin@verizon.com
908.227.0536

Andrew Eble
Andrew.Eble@verizon.com
201.572.0975

 

FAQ

What is Verizon doing in Smithfield, Rhode Island?

Verizon is deploying its first electric fleet in Smithfield, Rhode Island, including 40 Ford eTransit vans and 5 Ford Lightning trucks with charging infrastructure.

What is Verizon's sustainability goal by 2035?

Verizon aims to achieve net-zero operational emissions by 2035, with a 53% reduction in operational emissions by 2030.

How is Verizon planning additional electric vehicle rollouts?

Verizon plans to roll out electric vehicles in GWCs across the New England and Mid-Atlantic regions.

What informed Verizon's EV planning decisions?

Verizon's EV planning decisions were informed by data and analytics from the Verizon Connect fleet management software platform.

What is the expected growth of electric vehicles in the market by 2050?

Electric vehicles are projected to grow to 31% of the market, or about 672 million vehicles, by 2050, according to the U.S. Energy Information Administration.