(Source: Azure Dynamics) Toronto - FedEx Express, a subsidiary of FedEx Corp. today announced it has signed agreements with Azure Dynamics Corporation a leading developer of hybrid-electric and electric powertrains for commercial vehicles, to develop gasoline parallel hybrid-electric powertrains for their delivery fleet.
Under terms of the agreements, Azure will supply a parallel hybrid-electric test vehicle to FedEx Express for the Ford E-450 hybrid commercial delivery van development program. Once the development phase is completed, FedEx Express has committed to purchase a minimum of 20 pre-production parallel hybrid-electric Ford E-450 delivery vans to be delivered by May 2008.