EVs are infiltrating every sector of the economy. The most recent innovation is armored electric vehicles, which are used to reduce emissions in the cash-handling industry.
Loomis, a cash delivery company, has announced expanding its collaboration with Xos, ordering 150 armored EVs for US operations.
Those armored vehicles you see picking up cash from banks and retail stores are likely Loomis.
Loomis modernization
According to electrek, Loomis is modernizing its rich history, which started during the California gold rush.
What began as the “Pony Express,” transferring packages from the West to East coasts of the United States, has grown into a global cash-handling powerhouse with about 400 local offices spread across 20 countries.
The company is growing again, but this time with zero-emission armored electric vehicles. Xos, a California-based commercial EV manufacturer, will produce the armored EVs.
Established in 2016, Xos is on a quest to decarbonize commercial transportation while offering fleet owners a seamless transition from ICE cars to fully electric vehicles.
Xos and Loomis partnership
Xos manufactures fully electric medium and heavy-duty EVs, electric powertrains, and charging stations.
Xos announced today in a press statement that it will develop its initial collaboration with Loomis by signing a purchase contract to supply 150 armored electric vehicles for use in US markets.
Loomis had 20 Xos armored EVs in its fleet by the end of 2022. The expansion will assist Loomis in reducing emissions from fleet use, which is the company’s most crucial climate impact. The CEO of Loomis explained:
We have made a commitment to reduce carbon emissions from our business and have set out to lead the transformation in the industry. By significantly increasing the number of E.V.s in U.S. operations, we are on our way to both reducing our own emissions and helping our customers reach their targets while maintaining our high-security standards.
20% reduction in CO2
The electric vehicles will be delivered gradually throughout the year, with Loomis incorporating them into its fleet in the second quarter of 2023.
Loomis issued an industry-first sustainability-linked bond, with the worth linked to a 20% reduction in CO2.
Loomis is also cooperating to transition its operational energy needs to 100% renewable energy, with many solar panel projects in the works.
Loomis hopes to achieve a 15% reduction in CO2 emissions compared to 2019 levels by 2024, and armored EVs are anticipated to play an essential role in getting there.
