[비즈한국] Walmart of the U.S. has announced that it has invested in 'Cruise,' an autonomous vehicle startup backed by GM. Competition in the global retail industry to capture the 'last mile' (the final stage of delivering products to consumers) market is heating up.
According to major foreign media outlets including CNN on the 15th (local time), the exact amount of Walmart's investment in Cruise has not been disclosed. However, it is estimated to be less than $750 million (approximately 837.8 billion KRW). This is because Cruise stated that its funding round increased from $2 billion (approximately 2.234 trillion KRW) to $2.75 billion (approximately 3.0718 trillion KRW) with the addition of Walmart and other institutional investors.
Walmart's move was a predictable step. In November 2020, Walmart partnered with Cruise and launched a pilot autonomous delivery service in Arizona, USA. The service allows customers to place orders at local stores and receive non-face-to-face deliveries via autonomous vehicles.
In particular, Walmart was reportedly attracted to Cruise's electric autonomous vehicles. In a statement, Walmart said, "Cruise, with its all-electric fleet powered by 100% renewable energy, is the right partner to help us take collective action on climate change." Walmart has previously announced a goal to achieve carbon neutrality by 2040.
It remains to be seen how quickly and accurately global retailers can establish delivery service systems while reducing costs. With the non-face-to-face economy and 'stay-at-home' consumption becoming a way of life due to COVID-19, the competition for delivery has ignited.
Amazon, another powerhouse in the retail industry, invested in autonomous driving startup 'Aurora' in 2019 and acquired autonomous vehicle startup 'Zoox' in June of last year. In December of the same year, it unveiled an autonomous taxi. Amazon, which has already begun drone product delivery, plans to build a delivery system that covers both the sky and the ground by integrating autonomous vehicles.