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Report: Amazon taps CargoX on logistics project in Brazil

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Report: Amazon taps CargoX on logistics project in Brazil

Amazon.com Inc. is partnering with São Paulo-based trucking startup CargoX Transportes on a pilot logistics project in Brazil that will use bulletproof trucks for the delivery of electronics and other high-value goods, Bloomberg reported Oct. 4, citing a person familiar with the matter.

Goldman Sachs Group Inc.- and Qualcomm Inc.-backed CargoX connects truckers and companies requiring shipping and delivery services through blockchain-based solutions.

The source told Bloomberg that predictive data and other technology will be used to speed up the delivery process since heavy-duty trucks are slower and tend to reduce the pace of deliveries.

Bloomberg said CargoX declined to comment, while Amazon told the news outlet that it does not comment on rumors or speculation.

The report comes a year after Amazon expanded its product offerings in the Brazilian market to include electronic items after only selling books in the country since 2012.

In March, Reuters reported that Amazon was planning to directly stock and sell products in the country. The online retailer was also reported to be in talks with Brazilian airline Azul SA for shipping goods in the country.