Chinese e-commerce giant Alibaba is investing $364 million into electronics manufacturer Haier Group as it looks to extend its logistics and delivery capacity.
Haier, which has built smartphones based on Alibaba’s Aliyun operating system, says the deal will “fully leverage Haier Group’s operational experience and Alibaba’s e-commerce, data and information capabilities to create a fast and convenient end-to-end e-commerce and logistics experience for consumers.”
Alibaba already has an incredible footprint for online sales in China — it grossed a record $5.75 billion in sales in the country’s Cyber Monday equivalent — and logistics is the next key focus, as its new supply chain business unveiled earlier this year shows. Alibaba’s investment is across Haier Electronics ($124.5 million) and its Goodaymart subsidiary ($240 million).
➤ Haier Group And Alibaba Group Enter Into Strategic Partnership [Haier]
The 💜 of EU tech
The latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!
Image via MIKE CLARKE/AFP/Getty Images
Get the TNW newsletter
Get the most important tech news in your inbox each week.