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Ocado invests £10m in Oxbotica to develop autonomous vehicles to speed up logistics operations
StockMarketWire.com
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Grocery platform Ocado said it would invested £10 million in Oxbotica, to collaborate on autonomous vehicles that would be speed up the logistics operations and drive costs down.
'The use cases range from vehicles that operate inside of Ocado's customer fulfilment centre buildings and the yard areas that surround them, all the way to last-mile deliveries and kerb-to-kitchen robots,' the company said.
Logistics costs constitute the single-largest line item in the operating cost structure of online grocery.
'Beyond potential cost savings within its core operations, Ocado sees significant opportunities to improve its partners' customer proposition by being better able to respond to peak delivery demands, reducing the cost-to-serve of its immediacy proposition, and accelerating the shift to electrically-powered vehicles,' the company added.
At 9:24am: (LON:OCDO) Ocado Group PLC share price was 0p at 2283p
Story provided by StockMarketWire.com
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