Walmart Allocates $200M for Next-Gen Autonomous Forklifts to Revolutionize Warehousing

Walmart is planning to invest $200 million in self-driving forklifts to enhance warehouse efficiency. The world's largest retailer aims to automate the movement of goods with Fox Robotics' technology, potentially adding billions to its profit. This move is part of a broader strategy to compete with Amazon and drive down labor costs.

Walmart is considering a $200 million investment in self-driving forklifts as part of its initiative to modernize warehouse operations, sources familiar with the matter revealed.

The retail giant aims to deploy automated forklifts to transfer pallets of merchandise within its distribution centers. Walmart has already invested $25 million in Fox Robotics and plans to purchase hundreds of these forklifts if satisfied with their performance, insiders said. The implementation will be gradual, contingent on successful testing phases.

This previously unreported investment highlights Walmart's commitment to automation to boost profit margins and compete against Amazon. Although Walmart spokesperson Camille Dunn did not comment on the spending plans, she mentioned that technology deployments are subject to ongoing evaluation. Analysts predict Walmart's automation initiatives could significantly enhance profitability in the coming years.

(With inputs from agencies.)