SpeedX's Chicago Hub: A New E-commerce Giant

SpeedX, a burgeoning delivery service, unveils a colossal e-commerce hub in Chicago, capable of handling 500,000 packages daily. This strategic move underscores the companys rapid growth and its ambition to rival established players like FedEx and UPS. The facility, operated by Damon Technology Group, is a significant investment for SpeedX. Chris Zheng, SpeedXs founder, highlights Chicagos importance as a global air gateway and e-commerce hub. Meanwhile, other smaller delivery companies like Veho, Gofo, OnTrac, and UniUni are also expanding, with Veho increasing its parcel sorting capacity by over 50% in key markets. This expansion coincides with projected U.S. e-commerce sales of $1.3 trillion this year, raising questions about market saturation and the sustainability of these new players.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.