PNM Commits to Fleet Electrification


PNM Resources has committed to electrifying its fleet by 2040.

The company says as existing fleet vehicles are retired, they will be replaced with an increasing percentage of EVs. The new goals call for 25% of all light-duty fleet purchases to be electric by 2025 and 50% to be electric by 2030. Light-duty fleet vehicles consist of sedans, vans, SUVs and most pickup trucks. The goals are designed to continue utilizing vehicles with the remaining value until the appropriate time for replacement and steadily employing a mix of traditional and EVs that meet operational needs. The phased-in approach takes advantage of evolving technologies and provides for a cost-efficient transformation of the fleet.

“As part of our commitment to an ESG strategy, we continue to look for opportunities to make changes in our business that benefit the environment and provide additional value to customers,” says Pat Vincent-Collawn, chairman, president and CEO of PNM Resources. “As we look beyond the transformation of our energy portfolio to emissions-free, the increased integration of EVs in our fleet meets both objectives and advances our vision of a clean and bright energy future.”

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