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Benzinga
Benzinga
Business
Akanksha Bakshi

FedEx Partners With Elroy Air To Test Autonomous Drone Cargo Delivery

FedEx FedEx Express FDX FedEx Corp
  • FedEx Corp (NYSE:FDX) subsidiary FedEx Express is partnering with California Bay Area-based Elroy Air, the company building the first end-to-end autonomous vertical take-off and landing (VTOL) aerial cargo system.
  • FedEx Express will develop plans to test Elroy Air's Chaparral autonomous air cargo system within its middle-mile logistics operations, moving shipments between sortation locations.
  • Elroy Air announced its signature Chaparral autonomous aircraft in January 2022.
  • FedEx and Elroy Air plan to continue their collaboration to pursue certifications and begin flight testing in 2023.
  • Price Action: FDX shares are trading lower by 1.02% at $236.13 on the last check Wednesday.
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