KargoBot chief Junqing Wei was speaking at CNBC’s East Tech West conference in China.
"We believe that a cargo mobility revolution is going to happen in the next 10 years, that logistics will be very different from what it is today," KargoBot CEO Junqing Wei says.
Speaking at CNBC's East Tech West conference in the Nansha district of Guangzhou, China, KargoBot chief Junqing Wei said his business is looking to"revolut" freight transportation. Wei said KargoBot was incubated by the Chinese ride-sharing powerhouse Didi for the past three years. KargoBot, he said, already has more than 100 autonomous driving trucks on the road, mainly on routes in Inner Mongolia, northern China.The logistics market, Wei said, is worth more than $1 trillion, with KargoBot focusing on the delivery of raw material for manufacturers and factories.Wei shared what he learned from operations in Inner Mongolia.
Despite those beneficial characteristics, Wei acknowledged the challenges, which include herds of sheep and"huge amounts of dust on the road" affecting visibility. Toll stations are another issue.
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