FILE PHOTO: An exhaust pipe is seen as a vehicle sitting in traffic approaches the Blackwall Tunnel, in London, Britain, November 18, 2020. REUTERS/Simon Dawson/File Photo
LONDON (Reuters) - The future of a bevy of commercial electric van startups seeking investor capital through blank-check IPOs rests largely in the hands of a small group of big companies, above all UPS, FedEx, DHL and Amazon.
With each carrier having tens of thousands of vehicles in its global fleet, an order from a package delivery giant can launch a startup on the road to manufacturing scale and profitability, and serve as a marketing tool to win orders from other big customers.
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