The last-mile delivery market has ballooned into a $20 billion industry in the last 18 months due to rapid e-commerce adoption during the COVID-19 pandemic. The increasing demand for last-mile delivery transportation solutions due to rising e-commerce adoption will also further propel electrification of commercial fleets in coming years. Specifically, commercial vehicle fleet conversion to electric would take priority, as the segment continues to account for more than 80% of total transportation sector GHG emissions. Global electrification of the transportation sector has been viewed as a key element to decarbonizing the economy, as it currently accounts for one of the largest portions of global greenhouse gas (“GHG”) emissions.
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