Amazon says it is to invest €1 billion over the next five years into electric vehicles and low-emission package hubs across Europe as part of plans to hit Net Zero targets.

The online retail giant is to invest £300 million into the UK alone in a move which it said is also aimed at increasing innovation across the transportation industry and encouraging more public EV charging infrastructure.

It plans to increase its electric van fleet in Europe from 3,000 vehicles today to more than 10,000 by 2025, with up to 700 electric HGVs in the UK.

Amazon says it will look to double its European network of ‘micro-mobility’ hubs, currently live in 20 cities, which allow for the delivery of goods on foot or via electric cargo bikes. 

It will also install hundreds of fast charging points at its European warehouses and delivery hubs.

The company plans to achieve Net Zero carbon by 2040. “Deploying thousands of electric vans, long-haul trucks, and bikes will help us shift further away from traditional fossil fuels,” said CEO Andy Jassy.

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Oliver Shaw, CEO at retail analytics platform Kalibrate, said the EV investment was “a step towards the UK government’s ongoing goal to achieve Net Zero emissions by 2050”.

“For long-term success, there needs to be more confidence amongst current EV drivers [in infrastructure], while potential EV customers need the assurance to make the switch,” he said. 

UK transport secretary Anne-Marie Trevelyan said: “Significant investments like Amazon’s today will be vital to reducing emissions and meeting our net zero goals, while supporting growth at the same time.”