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JD.com to foster connected vehicle fleets with $55M investment

Rita Liao
JD.com to foster connected vehicle fleets with $55M investment

JD.com, the Chinese answer to Amazon and Alibaba's long-time rival, is looking to further automate its logistics network after agreeing to pour 376 million yuan (around $55 million) into Jiangsu Xinning Modern Logistics in exchange for up to 10 percent stake. The ally appears as a good fit since much of JD's revenue is driven by big-ticket electronics and home appliances sales. In a separate filing on Monday, Xinning said it's inked a strategic partnership with JD Logistics, JD's loss-making logistics arm, to build out a big data system that will boost efficiency and cut costs by optimizing matches between cargos and vehicles.

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