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Benzinga

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Akanksha Bakshi

UNCOVERED: Fedex partners with elroy air to test autonomous drone cargo delivery - The Untold Story

Elroy Air 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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