May 30, 2003 [SolarAccess.com] Hybrid FedEx Express, a subsidiary of FedEx Corp. in concert with Environmental Defense and Eaton Corporation has introduced a low-emission, hybrid electric powered delivery vehicle that could become a standard medium-duty delivery truck for the FedEx Express fleet. The FedEx OptiFleet E700 hybrid electric vehicle will decrease particulate emissions by 90 percent, reduce smog-causing emissions by 75 percent and increase fuel efficiency by 50 percent. Eaton Corporation was the company selected to produce the hybrid electric powertrain for FedEx Express. FedEx Express has agreed to purchase 20 hybrid electric diesel delivery trucks using Eaton’s innovative hybrid electric technology. Later this year and into early 2004, these 20 vehicles will begin operation in four yet-to-be-named U.S. cities. These hybrid electric vehicles will endure real-world FedEx operating conditions to verify and prove their viability in commercial applications. As the trucks succeed in meeting project goals, FedEx OptiFleet E700 hybrid electric trucks will be placed in the company’s pick up and delivery fleet as early as Fall 2004. FedEx Express expects to purchase hybrid electric vehicles on the company’s normal purchasing schedule for routes in the U.S. and Canada, where medium-sized delivery trucks are used. This program has the potential to replace the company’s 30,000 medium duty trucks over the next 10 years.