Purolator Courier Ltd. has signed an agreement to buy up to 2,000 hybrid-electric vehicles chassis from a subsidiary of Azure Dynamics, reports the Toronto Star. The five-year deal, potentially worth $90 million (US $66.7 million), will begin with delivery of 30 vehicles in 2004 for Purolator's urban delivery fleet. This could lead to additional purchases of up to 400 vehicles annually beginning in 2005 as the company replaces its current 3,700 vehicle fleet.

Originally posted on Fleet Financials