(Reuters) - Canada-based delivery and logistics firm Purolator Inc said on Tuesday it plans to invest C$1 billion to strengthen its footprint in its domestic market, looking to reach more customers and businesses and keep up in a hypercompetitive e-commerce space.
The centerpiece of the 5-year investment plan is a C$330 million ($250 million), 60-acre national hub in Toronto which will open in 2021 and triple the courier’s capacity for package deliveries, allowing it to deal better with peak periods.
Purolator, which is largely owned by Canada Post, also said it expects to introduce more than 1,000 new vehicles with more advanced technology across the country in 2019 and 2020 to improve deliveries.
It plans to roll out its first batch of fully electric vehicles in 2020 to complement an existing hybrid electric fleet, it said in the statement.
Reporting by Arundhati Sarkar in Bengaluru and Allison Lampert in Montreal; editing by Patrick Graham