Amazon to invest in French firm's technology for self-driving forklifts

Amazon will receive free stock warrants representing up to 29% of Balyo's capital

Amazon could build a stake of almost a third in warehouse robotics firm Balyo in the next seven years, as part of a deal that could boost sales of the French company's technology for self-driving forklift trucks.

Warehouse automation is a key element in efforts by Amazon to cut costs and speed up deliveries. The world's biggest online retailer currently uses robots developed by Kiva Systems, a company it bought for $775 million in 2012.

"This agreement ... represents an unprecedented opportunity for Balyo to grow