On August 21, VisionNav Robotics announced its strategic cooperation with BPS Global Group. Both parties will develop in-depth cooperation focusing on the smart logistics business, especially the driverless industrial vehicles in Hong Kong, and accelerate overseas market expansion.
Founded in 1992, BPS Global Group is a leading provider of construction and logistics infrastructure headquartered in Hong Kong. BPS Global has proven capabilities in offering logistics consulting, supply chain optimization, and operations improvement services, to help improve return on investment, profit margin, quality of output, and strong competitiveness. Mr. Kelvin Ko, Chief Executive Officer of BPS Global, said that VisionNav Robotics is the leading supplier of driverless industrial vehicles in China, who has unique advantages in technology research and development, products and solutions. The cooperation with VisionNav Robotics this time will motivate BPS Global’s diverse portfolio and smart business in Hong Kong, meeting demands of different customers.
Dr. Li Luyang, CEO of VisionNav Roboticists, said that
The cooperation with BPS Global is to rely on the integrated domestic and foreign channels of both parties to further expand our business in smart logistics: on one hand, we can provide efficient, full-scale and smart driverless industrial vehicle products and smart logistic solutions to Hong Kong users; on the other hand, we can create a business mode suitable for overseas market expansion through multi-level cooperation of both parties, realizing large-scale replication from "0" to "1" to "N", and penetrating the market rapidly.
In recent years, traditional warehousing logistics are facing pressure of rising labor costs and recruitment difficulties, thus there is a strong demand for automation. On the other hand, according to data from the World Industrial Vehicle Statistics Association, total number of global industrial vehicles reached 11.3704 million units in 2019, while market penetration rate of driverless industrial vehicles is less than 1%, indicating the huge market potential. Since its establishment, VisionNav Robotics has been committed to combining vision technology with mobile robots, and has successfully developed a number of products for logistics automation including automated guided forklifts, automated guided tractors, BrightEye Environmental Monitoring Systems, etc., implementing more than 50 projects for many industry-leading customers.
In July 2020, the automated guided forklift from VisionNav Robotics officially obtained CE certificate in compliance with 2006/42/EC Machinery Directive and the latest international standards ISO 3691-4: 2020, providing quality basis for the expansion of domestic and overseas market.