Ryder deploys first of 4,000 BrightDrop electric vans into its rental fleet across these 4 cities
Close to six months after announcing a massive order from GM’s BrightDrop, logistics and vehicle rental specialist Ryder is deploying its first batch of electric vans across the US. The deployment kicks off Ryder’s process in adding 4,000 BrightDrop EVs to its fleet over the next two years.
Ryder System, Inc. ($R) is a logistics and transportation company whose vast fleet of commercial vehicles you’ve probably seen on roads somewhere in North America. In addition to warehouse and distribution, last-mile deliveries, and freight brokerage, Ryder offers commercial vehicle rentals and leasing.
The company currently manages a fleet of 260,000 commercial vehicles, providing services in the US, Canada, and Mexico. As GM’s all-electric, last-mile delivery unit, BrightDrop too is a US-based company, although its electric vans are currently built at GM’s CAMI facility in Ingersoll, Ontario.
BrightDrop has since delivered its Zevo 600 vans to customers in Canada like FedEx Express and most recently expanded to Mexico as well. This past April, BrightDrop gained another huge commercial customer in Ryder, who committed to an order of 4,000 electric vans.
Today, the first of those commercial vehicles have gone into operation across four major metropolitan areas in the US and are now available to rent.
BrightDrop’s electric vans now available to rent from Ryder
According to an update from Ryder, its first wave of BrightDrop Zevo 600 electric vans have been deployed across its rental fleet, kicking off its order of 200 EVs ordered this year. Ryder and BrightDrop are not currently sharing how many vans have gone into operation, but it is a welcomes step toward deploying all 4,000 on order by the end of 2025.
The Ryder branded Zevo 600s seen above are now available for rent in Santa Fe Springs, California, Hayward, California, Dallas-Fort Worth, Texas, and Long Island City, New York. To familiarize local customers with its newly acquired commercial EV technology, Ryder has hosted a series of “Ride and Drive” events featuring the BrightDrop electric vans and charger piles from ChargePoint.
The Zevo 600 offers a range up to 250 miles on a single charge and can deliver a payload capacity between 1,460 and 2,450 lbs. Its cargo capacity is 615 cubic feet. The electric vans will operate as part of transportation specialist’s RyderElectric+ service, which offers customers a turnkey solution to go all-electric, providing advisors, vehicles, charging infrastructure, and maintenance for one price. Ryder’s president of fleet management solutions, Tom Haven’s spoke to today’s EV milestone for the company:
Working with companies such as BrightDrop keeps Ryder at the forefront of identifying and testing advanced and emerging vehicle technology, and we’re excited to incorporate these new EVs into our fleet. Through our partnerships with technology providers and equipment manufacturers, Ryder can offer commercial fleet management solutions that drive sustainability and operational goals for our customers.
Ryder has already laid out a five phase plan to eventually electrify its entire fleet and moves a step closer with this first electric van delivery from BrightDrop. With thousands more EVs due to arrive from CAMI through 2025, we are sure to see a lot more Zevo 600s wrapped in Ryder red hitting rental lots soon… as long as GM can keep up with production, that is.
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The Stripe logo on a smartphone with U.S. dollar banknotes in the background.
Budrul Chukrut | SOPA Images | LightRocket via Getty Images
Stripe cut 300 jobs, representing about 3.5% of its workforce, mostly in product, engineering and operations, CNBC has confirmed.
The payments company, valued at about $70 billion in the private markets, still expects to increase headcount by 10,000 by the end of the year, which would be a 17% increase, and is “not slowing down hiring,” according to a memo to staff from Chief People Office Rob McIntosh. Business Insider reported earlier on the cuts and the memo.
A Stripe spokesperson also confirmed to CNBC that a cartoon image of a duck with text that read, “US-Non-California Duck,” was accidentally attached as a PDF to emails sent to some of the employees who were laid off. Some of the emails mistakenly provided affected employees with an incorrect termination date, the spokesperson said.
McIntosh sent a follow-up email to staffers apologizing for the “notification error” and “any confusion it caused.”
“Corrected and full notifications have since been sent to all impacted Stripes,” he wrote.
In 2022, Stripe cut roughly 1,100 jobs, or 14% of its workers, downsizing alongside most of the tech industry, as soaring inflation and rising interest rates forced companies to focus on profits over growth. The Information reported that Stripe had a few dozen layoffs in its recruiting department in 2023.
Stripe’s valuation sank from a peak of $95 billion in 2021 to $50 billion in 2023, before reportedly rebounding to $70 billion last year as part of a secondary share sale. The company ranked third on last year’s CNBC Disruptor 50 list.
In October, Stripe agreed to pay $1.1 billion for crypto startup Bridge Network, whose technology is focused on making it easy for businesses to transact using digital currencies.
Brothers Patrick and John Collison, who founded Stripe in 2010, have intentionally steered clear of the public markets and have given no indication that an offering is on the near-term horizon. Total payment volume at the company surpassed $1 trillion in 2023.
WATCH: Early Bridge investor weighs in on $1.1 billion Stripe deal
Thinking about upgrading your EV? Rivian (RIVN) launched a new promo on Tuesday, offering up to $6,000 to upgrade your R1S or R1T. Here’s how you can snag some savings.
Rivian R1S and R1T upgrade deal offers up to $6,000
Rivian delivered over 51,500 vehicles last year as the EV maker gains momentum. Although it was only slightly higher than the ~50,100 delivered in 2023, Rivian is expected to see even more growth this year.
After shutting down its Normal, IL manufacturing plant last April and renegotiating supplier contracts, Rivian has seen “significant cost improvements,” according to CEO RJ Scaringe.
Rivian also began delivering its next-gen R1S and R1T models last year. The new Large and Max battery packs have redesigned modules and more efficient packaging, “making them easier to manufacture and service.” For example, Rivian’s new EVs use seven ECUs, down from 17 in the first-generation R1T and R1S.
With new plant upgrades, reworked supplier contracts, and more efficient vehicles, Rivian is now passing the savings on to customers.
Rivian introduced a new promo on Tuesday, offering up to $6,000 to upgrade your R1T or R1S. The bonus amount varies by trim:
- Tri with Max battery: $6,000 USD / CAD 8,600
- Dual with Max battery and Performance upgrade: $4,500 USD / CAD 6,500
- Dual with Max battery: $3,000 USD / CAD 4,300
The offer is for current R1T or R1S owners or lessees in the US and Canada. Rivian launched the new promo on January 21, and it runs through March 31, 2025.
After you purchase or lease a qualifying vehicle, Rivian will apply a discount toward the MSRP. You must take delivery by March 31, 2025. In the fine print, Rivian stated, “You must request a trade-in estimate to qualify for this offer, but trade-in of a vehicle is not required.”
Any other models are excluded from the offer. These include Dual Standard configurations, Dual with Large battery configurations, custom builds, demo vehicles, and pre-owned vehicles.
The new offer follows Rivian’s previous upgrade promo introduced last October, giving qualifying gas-powered vehicle owners or lessees up to $3,000.
Check out the Rivian R1 Shop to view eligible models. You can see eligible Rivian R1S here and R1T models here.
Electrek’s Take
Rivian’s R1S was already the tenth best-selling electric vehicle in the US last year, with nearly 27,000 models sold. With more driving range and power at a lower cost, the electric SUV could see even more demand in 2025.
Then again, with the arrival of new luxury electric SUVs, like the Jeep Wagoneer S and Volvo EX90, Rivian will face more competition in the US.
Rivian’s latest promo comes as the Company looks to carry the momentum from the end of 2024 into the new year. The EV maker is offering other deals, including 1.99% APR for 60 months on the R1 Dual with a Max Battery and Performance upgrade.
Even if you are not eligible for the promo, we can still help you find deals on Rivian’s electric SUV in your area. You can use our links below to view offers on the Rivian R1S and R1T near you today.
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Environment
Hyundai IONIQ 5 and IONIQ 9 lose the $7,500 EV tax credit: Here’s how you can still get it
In a sudden reversal, Hyundai’s new IONIQ 5 and IONIQ 9 EVs no longer qualify for the $7,500 US tax credit. Although this is a major blow to one of the top-selling EV brands in the US, there is still a way you can get the credit. Here’s how.
Hyundai EVs lose US federal tax credit in 2025
After setting another new US retail sales record last year, its fourth straight, Hyundai expected 2025 could be even bigger.
“With exciting new models like the IONIQ 9 and increased US production ramping up at our new Hyundai Motor Group Metaplant America in Georgia, I’m confident this momentum will continue,” Hyundai Motor North America CEO Randy Parker said.
Earlier this month, Hyundai announced its new 2025 IONIQ 5 and IONIQ 9, both made in the US, qualified for the $7,500 federal EV tax credit.
This was significant news because it was the first time Hyundai qualified since the Inflation Reduction Act (IRA) passed in 2022.
The upgraded 2025 IONIQ 5 and Hyundai’s three-row IONIQ 9 were among 25 EVs that qualified for the credit in early January.
According to the updated list from the Department of Energy (DOE) last week, Hyundai no longer has eligible EV models. The only Hyundai Motor Group (including Kia and Genesis) electric cars that qualify are the 2025 Kia EV6 and 2026 Kia EV9. Genesis, Hyundai’s luxury brand, also lost eligibility.
Hyundai began production at its new $7.6 billion EV plant in Georgia in October. The new 2025 IONIQ 5 was the first to roll off the assembly line, which will be joined by Hyundai’s three-row IONIQ 9.
Last year, Hyundai said it expected US-built models would qualify for a partial $3,750 credit until its battery unit with SK On came online, which was expected sometime in 2025.
Kia builds the new 2025 EV6 and three-row EV9 at its West Point, GA plant, enabling it to still qualify for the credit.
Meanwhile, Hyundai is still passing the $7,500 EV tax credit on through leasing. With leases starting as low as $199 per month, the new 2025 IONIQ 5 is still cheaper than a new Toyota RAV4.
With a bigger 84 kWh battery, the 2025 IONIQ 5 has a driving range of up to 328 miles, up from 303 miles in the outgoing model, which had a 77.4 kWh battery. It also gains noticeable design upgrades and now includes an NACS port for charging at Tesla Superchargers.
The IONIQ 5 was already the fourth-top-selling electric vehicle in the US last year. With more range, an upgraded design, and a Tesla NACS port, it will be even more attractive in 2025.
| 2025 Hyundai IONIQ 5 Trim | EV Powertrain | Driving Range (miles) | Starting Price* |
| IONIQ 5 SE RWD Standard Range | 168-horsepower rear motor | 245 | $42,500 |
| IONIQ 5 SE RWD | 225-horsepower rear motor | 318 | $46,550 |
| IONIQ 5 SEL RWD | 225-horsepower rear motor | 318 | $49,500 |
| IONIQ 5 Limited RWD | 225-horsepower rear motor | 318 | $54,200 |
| IONIQ 5 SE Dual Motor AWD | 320-horsepower dual motor | 290 | $50,050 |
| IONIQ 5 SEL Dual Motor AWD | 320-horsepower dual motor | 290 | $53,000 |
| IONIQ 5 XRT Dual Motor AWD | 320 horsepower dual motor | 259 | $55,400 |
| IONIQ 5 Limited Dual Motor AWD | 320-horsepower dual motor | 269 | $58,100 |
Hyundai launched a new promo last week. It offers those who buy or lease the new 2025 IONIQ 5 a free ChargePoint Level 2 EV charger. Alternatively, you can choose a $400 charging credit.
Are you ready to test Hyundai’s new electric vehicles for yourself? We can help you get started. Check out our links below to find deals on Hyundai, Kia, and Genesis EVs at a dealer near you today.
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