Industrial Supply Leader Adopts Best-in-Class EV Battery System Technology & Commercial Powertrains to Lower the Environmental Impact of its Fleet and Realize Operational Efficiencies
GILBERT, AZ – September 12, 2023 – Fastenal Company (Nasdaq: FAST) has selected ZEVXTM, a worldwide leader in intelligent electric vehicle (EV) systems, for an operational trial to convert pickup trucks in its fleet to EVs.
“We are committed to helping Fastenal incorporate EV technology in its last-mile delivery fleet,” said Sydney Dunn, SVP of Sales & Field Operations at ZEVX. “We share the bold goals of lowering carbon emissions while improving efficiencies, decreasing costs, and extending the life of existing commercial vehicles.”
ZEVX is a rapid innovator in battery electric power systems and data intelligence for e-mobility applications. The company has a series of premier battery electric powertrain and power system products that quickly migrate Class 2 to 5 commercial fleet assets and auxiliary power systems to zero carbon.
“With so many vehicles in operation around the world, we want to be a driver of innovation and efficiency in commercial transportation,” said Kevin Larson, Fastenal’s VP of Transportation. “We’re constantly looking at new solutions like the ZEVX technology to help move the industry forward and potentially accelerate our own carbon reduction journey.”
With a proof-of-concept stage complete, today’s news represents a six-state trial utilizing the ZEVX premier battery electric powertrain and power system products to repower up to 16 Fastenal vehicles in 2023.
ZEVX is a worldwide leader in intelligent EV systems powering commercial Class 2 to 5 vehicles, power takeoff, reefer refrigeration, and EV infrastructure such as charging stations. ZEVX has a series of battery electric powertrain and power system products that can quickly migrate commercial fleet assets to zero carbon. ZEVX has a service mission to support customers through a deep partner network using existing automotive service infrastructure. This provides for rapid adoption through our service network to install and deliver advanced data intelligence from fleet asset customers to optimize their carbon transition. For more information, please visit zevx.com.
Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through more than 3,300 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI® (Fastenal Managed Inventory) and digital solutions, Fastenal helps its business partners achieve product and process savings across the supply chain – a “high-touch, high-tech” approach encapsulated by its tagline, Where Industry Meets Innovation™. Fastenal’s local service teams are supported by 16 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling it to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges.
Additional information regarding Fastenal is available on the Fastenal Company website at fastenal.com.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements, which are subject to risks and uncertainties. The forward-looking statements contain words such as “goal,” “potential,” and similar expressions and any sustainability goals, targets, and expectations are long-term and inspirational and by their nature, include forward-looking statements. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those described in Fastenal’s ESG Report and filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Fastenal undertakes no obligation to update or revise any forward-looking statements.
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Read the release here.
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