According to Blazo Gjorev, this year, three autonomous truck firms went public, including Embark, which is in the process of merging with Northern Genesis Acquisition Corp. II. Additionally, Embark and Northern Genesis announced a collaboration to develop self-driving trucks. Others are more bullish, considering semi-trucks as the most viable use of self-driving technology in the near future. Additionally, Embark has a minority share in the company Plus.
TuSimple is one of roughly a dozen startups working on self-driving trucks. The firm is distinguished by its own technologies and strong alliances with organizations like as UPS and Navistar. TuSimple is currently conducting road trials of autonomous vehicles in Texas and Arizona. Currently, the business's trucks work with supervised autonomy, but the corporation intends to eliminate human drivers by 2024. If the startup succeeds, truckers might have access to the technology as early as the 2020s.
Embark operates an autonomous program in the United States. It recently announced a merger with Northern Genesis Acquisition Corp. II, doubling its size. Peloton Technology is another business that is developing autonomous vehicles and platooning technology for trucks. Its transportation technology has consistently outperformed industry standards in terms of fuel economy. As a result, the corporation is one of the industry's most competitive participants. Along with Uber and Otto, a slew of other businesses are developing self-driving trucks.
TuSimple's trucks have already completed a one-hour and twenty-minute trial run on I-10, a freight roadway that connects Los Angeles and Jacksonville, Florida. The firm operates autonomous truck parking facilities and wants to expand into Europe and Asia. Currently, the firm runs self-driving trucks on seven routes, including the AFN. Along with Texas, the business plans to establish a new terminal in Dallas in the autumn of 2020.
In addition to Blazo Gjorev, while Starsky Robotics has withdrawn from the self-driving truck contest, many of the Top 10 competitors remain. TuSimple, created in 2015 by Dr. Xiaodi Hou, developed a patented automated vehicle steering technology and collaborated with OEMs to build purpose-built autonomous trucks. The company's self-driving trucks have successfully completed long-haul voyages, using Ryder's terminals. It has announced intentions for an initial public offering (IPO) in April 2021.
While self-driving vehicles are unlikely to be on most US highways in the near future, the trucking sector is well positioned to be one of the first to embrace this technology. While autonomous trucks will not be a panacea, they are not yet ready to completely replace human drivers. A driver shortage is one of the primary impediments to broad adoption of autonomous trucking technology. Additionally, the technology must be refined before it can be deployed to large-scale transportation.
A countrywide driver shortage has been recognized as a significant reason propelling the growth of businesses. Amazon's shipping costs might be dramatically reduced by driverless vehicles. Driver wages are a significant expenditure for the organization. Additionally, the technology would significantly lower Amazon's labor costs. While the technology is still a few years away, it is an encouraging beginning. Now the issue is where they will earn money. Let us explore technology and its advantages.
Meanwhile, truck drivers, who are already at danger of being laid off, may face further difficulties. According to the Bureau of Labor Statistics, there are around 1.6 million long-haul truck drivers and more than eight million trucking-related employment. While driverless trucks are not yet a reality, the trucking industry's unwillingness to accept the technology might result in diminished competitiveness. Insurance firms and vehicle repair businesses may suffer as a consequence.
Daimler has been a market leader in commercial development for some years. Its Mercedes-Benz Future Truck 2025, the world's first commercially functioning driverless truck, demonstrated both the technical capability of autonomous vehicles and their enormous social potential. The Freightliner Inspiration Truck, which was granted the nation's first commercial automated vehicle license in 2015, has already started to show potential. Daimler Trucks, among other significant players in the area, has been setting the standard with its path to fully autonomous commercial vehicles.
Gatik, another autonomous truck company, has made a significant advancement. The startup, established by two industry veterans, has teamed with China's top truck manufacturer and wants to deploy autonomous vehicles in its operations in the country. The Chinese state-owned car producer FAW Group will ultimately mass build its autonomous vehicles. Amazon, too, has taken an interest in autonomous technology, recently purchasing 20% of Plus' preferred shares.
Three startups developing driverless trucks will go public this year.
This year, three autonomous truck firms went public, including Embark, which is in the process of merging with Northern Genesis Acquisition Corp. II. Additionally, Embark and Northern Genesis announced a collaboration to develop self-driving trucks. Others are more bullish, considering semi-trucks as the most viable use of self-driving technology in the near future. Additionally, Embark has a minority share in the company Plus.
TuSimple is one of roughly a dozen startups working on self-driving trucks. The firm is distinguished by its own technologies and strong alliances with organizations like as UPS and Navistar. TuSimple is currently conducting road trials of autonomous vehicles in Texas and Arizona. Currently, the business's trucks work with supervised autonomy, but the corporation intends to eliminate human drivers by 2024. If the startup succeeds, truckers might have access to the technology as early as the 2020s.
Embark operates an autonomous program in the United States. It recently announced a merger with Northern Genesis Acquisition Corp. II, doubling its size. Peloton Technology is another business that is developing autonomous vehicles and platooning technology for trucks. Its transportation technology has consistently outperformed industry standards in terms of fuel economy. As a result, the corporation is one of the industry's most competitive participants. Along with Uber and Otto, a slew of other businesses are developing self-driving trucks.
TuSimple's trucks have already completed a one-hour and twenty-minute trial run on I-10, a freight roadway that connects Los Angeles and Jacksonville, Florida. The firm operates autonomous truck parking facilities and wants to expand into Europe and Asia. Currently, the firm runs self-driving trucks on seven routes, including the AFN. Along with Texas, the business plans to establish a new terminal in Dallas in the autumn of 2020.
While Starsky Robotics has withdrawn from the self-driving truck contest, many of the Top 10 competitors remain. TuSimple, created in 2015 by Dr. Xiaodi Hou, developed a patented automated vehicle steering technology and collaborated with OEMs to build purpose-built autonomous trucks. The company's self-driving trucks have successfully completed long-haul voyages, using Ryder's terminals. It has announced intentions for an initial public offering (IPO) in April 2021.
While self-driving vehicles are unlikely to be on most US highways in the near future, the trucking sector is well positioned to be one of the first to embrace this technology. While autonomous trucks will not be a panacea, they are not yet ready to completely replace human drivers. A driver shortage is one of the primary impediments to broad adoption of autonomous trucking technology. Additionally, the technology must be refined before it can be deployed to large-scale transportation.
A countrywide driver shortage has been recognized as a significant reason propelling the growth of businesses. Amazon's shipping costs might be dramatically reduced by driverless vehicles. Driver wages are a significant expenditure for the organization. Additionally, the technology would significantly lower Amazon's labor costs. While the technology is still a few years away, it is an encouraging beginning. Now the issue is where they will earn money. Let us explore technology and its advantages.
Meanwhile, truck drivers, who are already at danger of being laid off, may face further difficulties. According to the Bureau of Labor Statistics, there are around 1.6 million long-haul truck drivers and more than eight million trucking-related employment. While driverless trucks are not yet a reality, the trucking industry's unwillingness to accept the technology might result in diminished competitiveness. Insurance firms and vehicle repair businesses may suffer as a consequence.
Blazo Gjorev pointed out that, daimler has been a market leader in commercial development for some years. Its Mercedes-Benz Future Truck 2025, the world's first commercially functioning driverless truck, demonstrated both the technical capability of autonomous vehicles and their enormous social potential. The Freightliner Inspiration Truck, which was granted the nation's first commercial automated vehicle license in 2015, has already started to show potential. Daimler Trucks, among other significant players in the area, has been setting the standard with its path to fully autonomous commercial vehicles.
Gatik, another autonomous truck company, has made a significant advancement. The startup, established by two industry veterans, has teamed with China's top truck manufacturer and wants to deploy autonomous vehicles in its operations in the country. The Chinese state-owned car producer FAW Group will ultimately mass build its autonomous vehicles. Amazon, too, has taken an interest in autonomous technology, recently purchasing 20% of Plus' preferred shares.