Alibaba's logistics arm to buy stake in Chinese robovan developer Zelostech

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 7/19/2026

1. NFLX
2. ISRG
3. SPY
4. AAPL
5. USB
6. NVDA
7. BA
8. GCTK
9. CFG
10. STT

January 29, 2026 1:44 AM EST

FILE PHOTO: An Alibaba logo is displayed at the company's booth at China International Fair for Trade in Services (CIFTIS) in Beijing, China, September 10, 2025. REUTERS/Maxim Shemetov/File Photo

Jan 29 (Reuters) - Chinese ⁠robovan developer ⁠Zelostech ‍said on Thursday that e-commerce giant Alibaba's logistics arm, Cainiao, will ‍take a stake in the company.

The deal ​will create a business valued around $2 billion, the ​Wall Street Journal, which first reported the news, said.

A spokesperson for the robovan developer said "Cainiao will not become ​a controlling shareholder of Zelostech."

A robovan is a fully autonomous electric vehicle designed ​for freight. Zelostech's Z10 model can transport a load of ‌about 1.5 tonnes.

"Zelostech and Cainiao’s autonomous-driving unit have entered into a deep ​strategic integration, jointly building a ⁠RoboVan Super Carrier in the unmanned freight sector," an emailed statement ‌from Zelostech said.

The company said Cainiao will "contribute its autonomous-driving business" to the deal and make ‌a cash investment in the company.

The Journal reported that ‌Cainiao's autonomous-driving unit will be folded into Zelostech, adding that Zelostech will operate both brands simultaneously.

Zelostech did ‍not respond to a further request for comment. Alibaba did not ⁠immediately respond to a Reuters request for comment.

(Reporting by Ananya Palyekar, Rajveer Singh Pardesi and Disha Mishra in Bengaluru; Editing by Mrigank Dhaniwala and Sahal Muhammed)


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

General News, Reuters