Fr8Tech, Amazon Mexico Renew Collaboration

Freight Technologies, Inc. (Fr8Tech), a logistics company specialized in AI-driven solutions, has announced the renewal of its collaboration with e-commerce giant Amazon Mexico. This partnership highlights the role of Fr8Tech's proprietary Fr8App platform in addressing the intricate logistical challenges posed by high-demand seasons.

In a press release, Fr8Tech announced the renewal of their partnership. To date, Fr8App has successfully moved 670 cargo loads between Amazon's distribution centers.

The announcement has profoundly impacted Fr8Tech's market standing. According to Dow Jones Newswires, the company's shares are experiencing a surge from US$0.28 to US$0.79. The surge was accompanied by a significant increase in trading volume, reaching over 149 million shares, well above the 65-day average of 277,245. While the stock has faced challenges, showing a 66% decrease in value over the year, the renewed collaboration with Amazon Mexico has instilled confidence among investors.

Javier Selgas, CEO, Fr8Tech, attributed the collaboration to the company's commitment to meeting customer needs and continuous platform improvements. "Amazon's decision to choose Fr8App for the high-demand season validates our capabilities and positions us as the go-to logistics solution for B2B cross-border and domestic shipping within the USMCA region,” said Selgas.

"We are excited to work for a prominent market leader like Amazon, and we are confident in our ability to meet the company’s stringent standards throughout the year as it continues to expand." 

Selgas also mentioned to MBN that Fr8app plans for 2023 consider the creation of a dedicated fleet by closing agreements with some of the world's largest companies, providing truck drivers with sufficient cargo volume to sustain and grow their operations.