FedEx and Chanje to Develop Groundbreaking Charging Infrastructure

FedEx Corp. (NYSE: FDX) started construction on electronic DC (direct current) charging stations back in January, and today announced the next phase of its electric vehicle rollout. Through an agreement with Chanje Energy Inc., the company plans to electrify 42 FedEx stations in California, making it one of the largest deployments of integrated charging infrastructure by a single commercial fleet to date.

FedEx announced the addition of 1,000 Chanje V8100 electric delivery vehicles to its fleet last November. FedEx is purchasing 100 of the vehicles from Chanje Energy Inc. and leasing 900 from Ryder System, Inc. Today's agreement will provide an innovative infrastructure to support the continued rollout of its electric vehicle fleet.

"FedEx is thrilled to continue being a pioneering industry leader in the electric vehicle space," said Mitch Jackson, chief sustainability officer, FedEx Corp. "The vehicles and DC charging infrastructure will not only help FedEx meet our operational efficiency and sustainability goals, but provide learning, scaling and experience to others in the vehicle electrification journey. We believe this will be a game-changer."

The DC charging system was designed specifically for FedEx. The innovative project will support daily charging for more than 1,000 electric vehicles, which were leased to FedEx. Notable features include:

• Higher maximum power output than standard Level 2 chargers
• Variable rate technology allowing FedEx to proactively adjust charging speed or shift energy usage away from peak hours to minimize electric utility bills
• DC (direct current) charging hardware, which is 10% more efficient than AC (alternating current) charging
• Software platform for remote monitoring and real-time charger controls

Chanje Energy Inc. will begin production of the EVs later this year. The vehicles are manufactured by FDG Electric Vehicles Limited (HKEX: 729) in Hangzhou, China, and purchased through Chanje Energy Inc., the company's subsidiary for global business. They will be delivered on a rolling basis over the next year. Ryder System, Inc. will provide maintenance and distribution support services for all of the vehicles.

FedEx has been using all-electric vehicles as part of its pickup-and-delivery fleet since 2009. The company believes that wider adoption of alternative-fuel, electric and hybrid electric vehicles in transportation will play a key role in reducing global emissions, while diversifying and expanding renewable energy solutions. Read more about the company's sustainability efforts in the 2019 Global Citizenship Report.

About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $69 billion, the company offers integrated business solutions through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 490,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.