🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

IKEA invests £4.5M in EV charging infrastructure projects for last mile fleet in the U.K. and Ireland

Published 04/20/2023, 03:25 PM
Updated 04/20/2023, 03:28 PM
© Reuters.  IKEA invests £4.5 million in EV charging infrastructure projects for last mile fleet in the UK and Ireland

By Michael Elkins

Swedish furniture retailer, IKEA announced today a £4.5 million (£1 = $1.2431) investment in a nationwide electric charging infrastructure, which will provide charging points for electric delivery vehicles across the country to enable more emissions-free deliveries.

The EV infrastructure forms part of IKEA’s ongoing transformation to become even more affordable, accessible, and sustainable as it aims to reach 100% zero emission deliveries to customers by 2025.

The investment marks one of the biggest EV charging infrastructure projects for last mile fleets in the U.K. and will see IKEA install 196 chargers, 53 of which will be rapid. The chargers will be located at IKEA stores across the country, as well as the new Dartford customer distribution centre due to open in spring 2023.

This move is essential to the furniture retailer’s goal to continue expanding the electric vehicle fleets being used to deliver to customers’ homes.

“Sustainability is at the heart of everything we do at IKEA, and we are always looking for ways to reduce our impact on the planet while supporting our customers to live more sustainable lives at home.” Said Jakob Bertilsson, Country Customer Fulfilment Manager at IKEA U.K. & Ireland.

“Investing in this infrastructure of nationwide charging points is a fundamental step in our ambition to reach 100% zero emissions customer deliveries from all IKEA stores and distribution centers by 2025, as well as supporting our ambition to become a climate positive business by 2030.”

Transport Decarbonisation Minister Jesse Norman said, “It is great to see IKEA investing heavily in EV chargepoints and decarbonising its vehicle fleet.”

“This investment is the latest example of businesses and government working together to decarbonise all aspects of road transport, improve air quality and create healthier, buzzing communities."

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.