Ryder Partners with Quantum for CNG Truck Fleets
Ryder System (NYSE: R) has announced it has entered into a long-term agreement with Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW) for the purchase and supply of complete compressed natural gas (CNG) fuel systems that are designed to help reduce costs and increase vehicle uptime for businesses that lease CNG trucks from Ryder.
With the agreement, Ryder will purchase CNG tank systems directly from Quantum and install them onto CNG-powered vehicles with a team of Ryder technicians.
Because natural gas tank storage systems are one of the most expensive components of a natural gas vehicle, Ryder can pass savings onto its lease customers by purchasing the systems directly.
According to Ryder President of Global Fleet Management Solutions, Dennis Cooke, “This relationship will help make compressed natural gas vehicles more affordable and reliable, so more businesses can take advantage of their environmental and efficiency benefits.”
Category: Featured, General Update, Green, Management, Vehicles
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