September 29, 2023

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FedEx CEO says the company will make a “tremendous effort” on AV Trucks in June

FedEx CEO says the company will make a "tremendous effort" on AV Trucks in June

FedEx CEO Fred Smith told CNBC’s Jim Kramer on Tuesday that the company will make great strides in its self-driving vehicle efforts this summer.

“In late June you will see a massive effort toward self-driving trucks moving on the highway,” Smith said in an interview. “Not in the city, where we think our drivers are better at picking up and delivering vehicles over long distances.”mad money. “

“We have come a long way down the road to do this. But we are not going to get rid of our drivers. They will do delivery, delivery and dredging, if desired, and over time, very confident with self-driving trucks on the way.”

FedEx announce It was testing autonomous delivery trucks in China in late 2021 by collaborating with Neolix, a self-driving logistics company based in the country. FedEx has previously launched initiatives towards the use of autonomous vehicles, in collaboration with companies such as Nuro, DEKA Development Research, Aurora and Paccar.

company announced Monday Smith becomes CEO and will be succeeded by Ray Subramaniam, the current Chief Operating Officer. The leadership change will take place on the 1st of June. Smith founded FedEx in 1973 while Subramaniam joined the company in 1991.

FedEx stock rose 3.7% Tuesday after the news.

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