Global logistics services provider Kuehne + Nagel (KN) has signed an agreement with Singapore’s state-owned investment company, Temasek, to establish a joint venture to invest worldwide in start-ups developing cutting-edge technology for logistics and supply chains.
The partnership “will be able to accelerate the transformation of the logistics industry,” said Joerg Wolle, chairman of Kuehne + Nagel International.
KN regards the joint venture an important step in its digitalisation strategy, with key areas of interest being big data and predictive analytics, artificial intelligence, blockchain and robotics.
The new company will look to invest in start-ups working on technologies and services with the potential to transform traditional business models in logistics, improve efficiency and “provide an enhanced value proposition” for consumers, said Swiss-headquartered KN.
The venture with Temasek will cover all industries, including automotive. The JV’s name will be announced in due course, a KN spokesperson told Automotive Logistics.
KN’s services to the automotive sector include inbound and outbound logistics, warehousing, sub-assembly, kitting, just-in-time deliveries, aftersales and reverse logistics.