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Shengfeng Development Limited Announces Joint Venture with Fujian Fulai Aviation to Expand Low-Altitude Logistics Services
Shengfeng Development (NASDAQ: SFWL) has formed a joint venture with Fujian Fulai Aviation Technology to expand into low-altitude logistics services. The new entity, Fujian Shengfeng Fulai Low Altitude Comprehensive Services, will be 51% owned by Shengfeng Logistics. The venture aims to combine Shengfeng's logistics expertise with Fulai's drone technology to serve remote areas in Fujian Province. The initiative targets China's low-altitude economy, projected to exceed 1 trillion yuan by 2026. Services will include rapid-response drone delivery, customizable logistics solutions, and dynamic pricing systems, focusing on e-commerce, pharmaceuticals, and cold-chain logistics.
Shengfeng Development (NASDAQ: SFWL) has formed a joint venture with Fujian Fulai Aviation Technology to expand into low-altitude logistics services. The new entity, Fujian Shengfeng Fulai Low Altitude Comprehensive Services, will be 51% owned by Shengfeng Logistics. The venture aims to combine Shengfeng's logistics expertise with Fulai's drone technology to serve remote areas in Fujian Province. The initiative targets China's low-altitude economy, projected to exceed 1 trillion yuan by 2026. Services will include rapid-response drone delivery, customizable logistics solutions, and dynamic pricing systems, focusing on e-commerce, pharmaceuticals, and cold-chain logistics.
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