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

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 "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 ...