“This is about getting the best, optimal delivery vehicle for us,” Mr. Wake said.Globally, UPS operates a fleet of about 120,000 vehicles, and around 13,000 of them use alternatives to diesel engines such as batteries.In addition to UPS, BlackRock and the South Korean automakers Hyundai and Kia have invested in Arrival.Electric vehicle companies have attracted frenzied interest from investors, who hope to find the next Tesla, which is valued at more than $650 billion, more than G.M., Ford Motor, Toyota Motor and Volkswagen combined. Wall Street’s interest has encouraged a parade of fledgling companies — some, including Arrival, that …
