<div id="readability-page-1"><div>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 &#34;Cainiao will not become a controlling ⁠shareholder of Zelostech.&#34;A ‌robovan is a fully autonomous electric vehicle designed for freight. Zelostech's Z10 ‍model can transport a load of about 1.5 tonnes.&#34;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,&#34; an emailed statement from Zelostech said.The company said Cainiao will &#34;contribute its autonomous-driving business&#34; 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)</div></div>

BABX

KBAB

09988

BABA

BABO

Alibaba's logistics arm, Cainiao, is set to acquire a stake in Chinese robovan developer Zelostech, creating a business valued at approximately $2 billion. The deal will not make Cainiao a controlling shareholder. Zelostech's Z10 robovan, designed for freight, can carry about 1.5 tonnes. The partnership includes a strategic integration of their autonomous-driving units, with Cainiao contributing its technology and making a cash investment. Both brands will operate simultaneously under Zelostech.

- Chinese robovan developer Zelostech announced that e-commerce giant Alibaba's logistics arm, Cainiao, will acquire a stake in the company, valuing the deal at around $2 billion.  
- Cainiao will not become a controlling shareholder and will contribute its autonomous-driving business while making a cash investment.  
- The partnership aims at strategic integration to jointly develop a RoboVan Super Carrier in the unmanned freight sector, with both brands operating simultaneously.

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