The Woolworths Group Ltd (ASX: WOW) share price is rising today amid news of a new home delivery fleet powered by electric vehicles (EV).
Woolworths shares are up 1.04% and are currently fetching $37.93. For perspective, the S&P/ASX 200 (ASX: XJO) is climbing 0.37% today.
So why is Woolworths hitting media headlines today?
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New EV delivery fleet
Woolworths is not the only supermarket giant in the green today. The Coles Group Ltd (ASX: COL) share price is also rising 0.45%. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) meanwhile is lifting 0.55%.
Woolworths today announced all of its home delivery fleets will be EVs by the year 2030.
This will lead to 1,000 more EVs on Australian roads, Woolworths said.
To kick start the plan, 27 new EVs will start delivering groceries to Woolworths customers in Sydney within the next couple of months.
Commenting on the news in a media release, Woolworths CEO Brad Banducci said:
We're proud to be putting 27 new EVs on the road in the coming weeks – in one of the many ways we're working to make grocery shopping greener.
Not only can we help make our suburban streets quieter and cleaner, but we hope to set an example for other businesses to support the growth of Australia's EV industry.
Woolworths reported an 8% lift in group sales in the 13 weeks ended 2 April, up 18% on the third quarter of FY22.
Woolworths share price snapshot
The Woolworths share price has jumped nearly 8% in the last year.
This ASX consumer share has a market capitalisation of about $46 billion based on the latest share price.
