10:21 AM EDT, 07/26/2024 (MT Newswires) -- (Updates with Walmart's ( WMT ) response in the fourth paragraph.)

Walmart ( WMT ) is looking to potentially invest $200 million in self-driving forklifts to move pallets of goods in its distribution centers as part of a warehouse automation strategy, Reuters reported Friday, citing three unnamed sources with knowledge of the matter.

Walmart ( WMT ) has planned to buy possibly hundreds of autonomous forklifts from Fox Robotics and invested $25 million in the firm, the report said, citing the sources.

Walmart ( WMT ) and Fox Robotics signed a multiyear agreement in April under which the retailer introduced at least 19 FoxBot autonomous forklifts in four facilities.

Walmart ( WMT ) declined MT Newswires' request for comment on the matter, while Fox Robotics did not respond.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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