Ryder System, Inc. (NYSE:R) Q4 2022 Earnings Call Transcript

So our view is that we’re seeing probably the most progress on that, more on light-duty type delivery vans, they seem to be the ones that are more ready for prime time if you will, not only from a technology standpoint, but the price point is getting to one that makes it economically viable for companies to invest in it. So we’re beginning to work with some of those OEMs to introduce their vehicles not only to our rental fleet, but over time also to our lease customers. Because I think Ryder plays an important role in introducing these vehicles when they’re ready, first as part of our rental fleet, so people can try them out. And then ultimately over time, helping them transition from diesel to EV for the types of vehicles that will go through that transition.

When they go through them, we expect that to take many years, probably decades, and Ryder’s really well positioned to help companies navigate through that period. So you know our approach to it has been to stay very focused, stay very closely tied into the OEMs and the technology providers, and working with them on pilots and betas and the testing and along with €“ even on some of the AV stuff. And when it’s ready for prime time, be able to bring what we have, which is a very large customer base to those technologies and get them – begin to get those integrated into the fleets.

Jeff Kauffman : That’s my question. Thank you.

Operator: At this time, there are no additional questions. I’d like to turn the call back over to Mr. Robert Sanchez for closing remarks.

Robert Sanchez : Okay. Well, thank you, everyone. Thanks for your interest in Ryder and I look forward to seeing all of you as we head out to some of the conferences and roadshows. Thank you. Have a safe day!

Operator: That concludes today’s conference. Thank you for your participation.