Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

Self-driving truck company Einride expands into Norway

Published 06/14/2023, 03:07 AM
Updated 06/14/2023, 03:11 AM
© Reuters. FILE PHOTO: Swedish start-up Einride driverless electric truck is seen in Jonkoping, Sweden May 15, 2019. REUTERS/Ilze Filks/File Photo

By Johannes Birkebaek

COPENHAGEN (Reuters) - Swedish electric self-driving truck company Einride expects to reduce CO2 emissions in Norway by 2,100 tonnes over the coming three years as it partners up with Scandinavia's leading postal service, PostNord, the company said on Wednesday.

Norway has the world's highest number of electric vehicles per head of population and aims for all heavy vehicles to be zero-emission by 2040, potentially cutting CO2 emissions by 4.4 million tonnes or nearly 9% of the country's annual emissions.

"Given Norway's pioneering work in electrifying passenger vehicles, it's only logical that they should take a leading role in the electrification of heavy-duty freight as well," Einride CEO Robert Falck said.

Using Einride's electric trucks, PostNord will reduce its fossil-fuel-driven deliveries in Norway by more than 1,500 km (932 miles) per day.

Many goods can be transported with zero-emission vehicles, resulting in a significant environmental benefit, according to assistant director of sustainability at PostNord Norway, May-Kristin Willoch.

Six trucks will be deployed in the Oslo region this month but the goal is to reach 35 electric connected trucks by June 2024.

PostNord will pay a monthly fee which will enable it to access electric and digital service, including the electric trucks that are owned by Einride.

Financial terms of the deal were not disclosed.

Self-driving technology for freight trucks has attracted investor attention in recent years as it is deemed cheaper and easier to roll out than self-driving cars.

Self-driving freight services require less mapping than other technology as they run on fixed routes between predefined points, mostly on major highways without intersections or pedestrians.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Einride's expansion into Norway will extend the Nordic Link grid, connecting locations in the Oslo region. In the future, the grid will connect Norway, Sweden and Denmark along the E6 highway.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.