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Alibaba's Cainiao to merge with Zelos Tech, creating $2B autonomous delivery firm.
Alibaba's Cainiao is set to merge its autonomous vehicle division with China's Zelos Technology, creating a new company called Cainiao Robovan valued at about $2 billion, according to a Wall Street Journal report.
The deal, unconfirmed by either company, will combine Cainiao’s logistics operations with Zelos’ robovan technology, forming a fleet of over 20,000 autonomous delivery vehicles.
The new entity will focus on self-driving logistics for postal services, fast-moving consumer goods, and express delivery.
Zelos will lead the merged company, while Alibaba will take a stake and a board seat.
Details on timing, financial terms, and regulatory approval remain unclear.
Cainiao de Alibaba se fusionará con Zelos Tech, creando una empresa de entrega autónoma de $ 2B.