Alibaba to grow Southeast Asia e-commerce arm to $100b

KIFI

Published December 17, 2021 11:40 AM

By ZEN SOO
Associated Press

HONG KONG (AP) — Alibaba this week revealed an ambitious vision to quintuple its Southeast Asian e-commerce business to $100 billion in transacted sales, as well as a pledge to reach carbon neutrality in its operations by 2030. The plan to quintuple Lazada’s total transacted sales came as Alibaba looked overseas for sources of growth amid increased competition and a slowing economy in the Chinese market. Alibaba’s pledge to reach carbon neutrality also coincides with China’s goals to reach net-zero carbon emissions by 2060. The company plans to use more renewables and energy-saving, energy-efficient technologies to reach its goal.

Article Topic Follows: AP National Business

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