United Parcel Service, Inc. (NYSE:UPS) is investing in new technology to improve its package delivery service.
The package delivery company will soon start using new delivery trucks with a drone nest built into their roof. The truck will carry a Workhorse HorseFly autonomous drone that can fly for 30 minutes and carry 10 pounds worth of packages, Business Insider reported.
UPS showed a new hybrid-electric package truck near Tampa, Florida, on Monday.
Mark Wallace, senior vice president for engineering and sustainability at UPS, told the publication that the company would save $50 million a year “if every one of its drivers reduces the length of their delivery routes by one mile.”
Meanwhile, UPS told investors on Tuesday that it is accelerating investment in its next-generation Smart Logistics Network. At the investor conference in New York City, the company also provided an update on its multi-year growth strategies, transportation, and operations network transformation.
UPS said it plans to focus on capturing market growth for online B-to-B and B-to-C customers. The company is also looking to invest in automation to drive improved performance.
“Over the next several years, you will see the most sweeping transformation of our network in its history,” UPS CEO David Abney said in a statement. “We are adding more flexible capacity, more technology, more capabilities and becoming more efficient, ultimately to improve customer and shareowner value.”
In addition, United Parcel Service, Inc. (NYSE:UPS) announced plans to expand its U.S. delivery and pickup schedule to include six days for ground shipments. The company said it will offer Saturday delivery options to the largest metropolitan areas in the U.S.
UPS Stock
Shares of UPS are down over 6% for the year. During the last 12 months, the stock has gained 10.63%.
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