Exclusive: Walmart looks to bet $200 million on autonomous forklifts

By Siddharth Cavale and Jeffrey Dastin
July 26, 2024 7:04 AM EDT Updated 5 hours ago


Employees at Fox Robotics' Austin headquarters walk by FoxBot, a driverless forklift, in Austin, Texas, U.S., February 16 2024, in this handout image. Fox Robotics/Handout via REUTERS

NEW YORK, July 26 (Reuters) - Walmart (WMT.N) has plans to potentially spend $200 million on self-driving forklifts as part of broader efforts to automate more warehouse operations, according to three people familiar with the matter.

The world's largest retailer wants autonomous forklifts to move pallets of goods in its distribution centers, which replenish Walmart stores. It has intended to buy possibly hundreds from Fox Robotics and invested $25 million in the Austin-based startup, the sources said.

The rollout, which Walmart could stop at any time, would occur in stages over several years and hinges on the retailer's satisfaction with the "FoxBots," said the people, who were not authorized to discuss the plans publicly.

Details about Walmart's investment and rollout have not been reported before. They underscore the company's strategy for warehouse automation, which aims to grow profit and help it compete with retailers like Amazon.com (AMZN.O).


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