Coca-Cola Taps Algorhythm for India Logistics Boost
RIME stock jumped nearly 25% on Tuesday after Algorhythm Holdings announced its unit SemiCab secured a pilot program with Hindustan Coca-Cola Beverages, a subsidiary of The Coca-Cola Company and its largest bottling partner in India.
The agreement will onboard Coca-Cola India onto SemiCab's AI-powered Collaborative Transportation Platform. The platform uses artificial intelligence and machine learning to optimize freight routes and enable fully loaded round trips.
Under the pilot program, Coca-Cola India will assess SemiCab's ability to reduce empty miles, improve delivery efficiency, and lower transportation costs.
Ajesh Kapoor, CEO of SemiCab Holdings, said, 'We are confident that this pilot will showcase the significant cost savings and efficiency gains our platform can deliver.'