Amazon.com, Inc AMZN will invest nearly $1 billion in electric vans, trucks and low-emission parcel centers to reach net zero carbon emissions.

What happened: That Jeff Bezos-The founded company announced that it will invest more than 1 billion euros ($973.48 million) in a fleet of more than 10,000 electric vehicles by 2025. This will triple the number of electric vans it currently operates on the continent from 3,000. reported Reuters.

The company also reportedly hopes to purchase more than 1,500 electric trucks in the coming years to make middle-mile shipments to parcel centers.

The e-commerce giant said it would also invest in thousands of chargers across Europe, Reuters reported.

According to the report, Amazon also has plans to double its European “micro-mobility” centers from the more than 20 that exist today.

See also: How to Buy Amazon (AMZN) Stock

Why it matters: Amazon started introducing electric vans In a relationship With Rivian Automobile Inc RIVN in July.

The company plans to introduce 100,000 custom electric delivery vehicles in the United States by 2030.

The US and Europe launches come amid Amazon’s commitment to achieving net-zero carbon across all of its operations by 2040.

Price promotion: On Friday, Amazon shares closed down 4.8% in the regular session at $114.56 Benzinga Pro data.

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