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MercadoLibre will increase its fleet of electric vehicles 14 times

(Bloomberg) – MercadoLibre Inc., the largest e-commerce retailer in Latin America, is looking to expand its fleet of electric delivery vehicles from just 70 to 1,000 or more after selling $ 1.1 billion in debt that included a $ 400 tranche. million in sustainable bonds. The company, whose recent logistics push includes dedicated jets operated by existing charging companies in Brazil and Mexico, plans to expand its fleet of electric vehicles by at least 14 times, according to Andre Chaves, senior vice president of the based firm. in Buenos Aires. “We are seeing positive results and the adoption of electric vehicles within our network should intensify in the future,” Chaves said in an interview. MercadoLibre, which has around 10,000 standard delivery vans in Brazil alone, is entering the market. the electric world while the value of its shares has more than doubled in the last 12 months, driven by restrictions resulting from the pandemic that have fueled interest in online shopping. In 2019, Amazon.com Inc., the world’s largest e-commerce retailer, announced plans to purchase 100,000 electric vehicles and pledged to reduce its carbon footprint to zero by 2040. MercadoLibre’s bond offering came after that sales of sustainable debt by companies and governments in Latin America and the Caribbean rose last year to a record US $ 17.6 billion, led by more than US $ 6 billion in green bonds, according to data compiled by BloombergNEF. MercadoLibre’s five- and 10-year bonds reached more than US $ 12 billion, said Nemesio Lozano, MercadoLibre’s director of treasury. The offer attracted the interest of investors specializing in ASG The firm’s $ 700 million in bonds maturing in 2031, which began trading on January 7, fell 0.4 cents this week to 100.4 cents on the dollar. MercadoLibre will also use part of the collection to accelerate financial inclusion in the region, promoting the granting of loans to small businesses and entrepreneurs, many of whom are taking loans for the first time, according to Chaves.Original Note: MercadoLibre Eyes EV Fleet Growth After $ 1.1 Billion Bond SaleFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source. © 2021 Bloomberg LP

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