Alibaba pledges $15bn logistics expansion
Written by Joshua Allsopp and published by opi.net
Chinese e-commerce giant Alibaba has vowed to invest more than $15 billion over the next five years to build its global logistics network.
The RMB100 billion ($15.2 billion) funding was announced alongside a deal to acquire a majority stake in its affiliate delivery data company Cainiao Smart Logistics Network.
Alibaba will increase its share from 47% to 51% after a transaction worth around $807 million.
It’s all part of the e-commerce group’s global retail strategy which looks to realise its goal of fulfilling orders in China within 24 hours and within 72 hours anywhere in the world.
READ MORE AT OPI.NET about Alibaba’s:
• five-year spend on increasing research and development in its transport data technology;
• collaboration with various logistics partners