United Parcel Service Inc. said Tuesday it plans to buy about 700 natural gas-powered tractor trailers and build four refueling stations by the end of next year.
The logistics company is investing more aggressively in natural-gas vehicles and natural-gas infrastructure given that natural-gas prices are 30% to 40% lower than imported diesel and the U.S. natural-gas production is gearing up, UPS said.
The company has more than 1,000 natural-gas powered vehicles on the road worldwide, part of a fleet of around 2,600 alternative-fuel vehicles, which also include electric hybrids and all-electric vehicles.
The company already has 112 tractor trailers out of stations in Nevada, Arizona, and Utah, and has its own LNG fueling station in Ontario, Calif., it said. Market Watch