FedEx Launches First Electric Vehicles in Korea to Enhance Sustainable Delivery Solutions

Seoul, South Korea January 14, 2024 - Federal Express Corporation, one of the world's largest express transportation companies, announced the launch of its first electric vehicles (EVs) in Korea. This milestone marks a major step towards reducing the company's carbon footprint in the country and progress towards the company's goal of achieving carbon-neutral operations by 2040.

FedEx has deployed six Hyundai ST1 Electric Cargo Vans to support its parcel pickup and delivery operations within high-traffic areas in Seoul and Busan, with additional units to follow within this year. The vehicles offer a 1-ton load capacity and estimated range of up to 317 kilometers on a full charge. Each vehicle is estimated to avoid around 7 metric tons of tailpipe emissions per year, based on estimated distance traveled on planned routes when compared to diesel-powered vans. This deployment not only demonstrates the FedEx commitment to reducing its environmental impact-including a goal to have an entirely zero-tailpipe emissions parcel pickup and delivery fleet by 2040-but may improve operational efficiency in dense urban environments.

This initiative is also aligned with Korea's goal of reducing emissions by 40% by 2030 compared to 2018 levels and achieving carbon neutrality nationally by 2050. In addition to vehicle electrification, FedEx is also investing in other areas such as aircraft modernization, sustainable fuels, efficient facilities, and is supporting carbon sequestration research to help deliver a more sustainable future.

"We are excited to be taking this significant step forward in our commitment to sustainability," said Wonbin Park, managing director of FedEx Korea. "This initiative is especially critical given the continued growth of e-commerce, which demands more sustainable last-mile deliveries. These new electric vehicles will help reduce emissions and is part of our efforts to provide customers with reliable, efficient, and environmentally responsible delivery options."

The company has also launched FedEx® Sustainability Insights,a cloud-based carbon emissions reporting tool that provides customers with historical emissions data for their shipments within the FedEx network. This information can help customers make more informed decisions about their shipping strategies to help reduce their impact to the environment.

For more information about FedEx sustainability efforts and its commitment to a more environmentally responsible future, please clickhere.