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