China's JD.com has said it is going to take on Amazon in Europe and is spending €1bn ($1.2bn) over two years on setting up a logistics network. The company says its new delivery service will be available across Europe, the Middle East and Africa by 2017. It is also setting up its first European research centre, which will focus on AI and big data, in Cambridge in 2019. JD’s CEO, Richard Liu Qiangdong, has predicted sales of British goods on JD's platform will surge to £10bn in three years, from £3bn to £4bn last year.
China's JD.com has said it is going to take on Amazon in Europe and is spending €1bn ($1.2bn) over two years on setting up a logistics network. It will be launching its delivery services and e-commerce platform in France in 2019 with plans to expand to the UK and Germany. It is also setting up its first European research centre, which will focus on AI and big data, in Cambridge in 2019. JD’s CEO, Richard Liu Qiangdong, has predicted sales of British goods on JD's platform will surge to £10bn in three years, from £3bn to £4bn last year.