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Embark has successfully completed its merger with Northern Genesis Acquisition Corp. II, with stockholders approving the business combination. Starting November 11, 2021, Embark’s common stock will trade on Nasdaq under the ticker symbol EMBK. The merger positions Embark as a leading autonomous trucking technology firm, aiming to enhance safety and efficiency in the $700 billion trucking industry. Key achievements include unveiling the Embark Universal Interface, securing 14,200 reservations for autonomous trucks, and forming strategic partnerships with major suppliers. The new company leadership includes experienced executives.
Northern Genesis Acquisition Corp. II (NGAB) announced a special meeting of shareholders on
Embark Trucks and Luminar Technologies have announced a partnership to equip Embark's truck fleet with Luminar's state-of-the-art long-range lidar sensors. This collaboration aims to enhance the safety and performance of Embark's autonomous trucking solutions, targeting a commercial rollout in 2024. The partnership follows Embark's 14,200 non-binding truck reservations and advances its asset-light business model. The shareholder vote on Embark's merger with Northern Genesis Acquisition Corp. II is set for November 9, 2021.
Northern Genesis Acquisition Corp. II (NGAB) announced plans to merge with Embark Trucks Inc. The business combination is set to close around November 10, 2021, pending stockholder approval on November 9, 2021. Following the merger, Northern Genesis 2 will be renamed Embark Technology, Inc. and its shares will trade on Nasdaq under the symbol EMBK. This strategic move aims to enhance market presence and facilitate growth in the evolving tech industry.
Embark Trucks, a pioneer in autonomous trucking technology, has announced that DHL Supply Chain joins its Partner Development Program, making it the first carrier to secure access to the Embark Driver software across all modes. DHL plans to deploy autonomous trucks in 2024 following its participation in Embark's ongoing reservation program, which boasts over 14,200 reservations. This collaboration aims to enhance operational efficiency and address supply chain challenges, with DHL investing €2 billion by 2025 to support digital transformation and the integration of autonomous freight solutions.
Northern Genesis Acquisition Corp. II (NYSE: NGAB) announced the SEC has declared effective its Registration Statement on Form S-4 for its business combination with Embark Trucks, Inc., a leader in autonomous trucking technology. A special meeting for stockholder approval is set for November 9, 2021. Stockholders are encouraged to vote before November 8, 2021. Embark aims to enhance the trucking industry through innovative technology. Following the merger, Embark plans to leverage the capital for growth and maintain its experienced management team.
Embark Trucks announced that participants in its Partner Development Program have placed reservations for 14,200 autonomous trucks, reflecting substantial demand for autonomous technology ahead of the commercial launch in 2024. These trucks could generate approximately 10 billion billable miles over their lifetimes, significantly enhancing operational efficiency. The reservations, tailored for individual fleets, are based on detailed lane assessments and underline a collaborative effort to deploy autonomous trucks effectively. Embark is set to merge with Northern Genesis Acquisition Corp. II (NGAB) as it progresses towards becoming publicly traded.
Embark Trucks Inc. hosted its inaugural Embark Day in San Francisco, showcasing over 20 on-highway autonomous truck demonstrations. Attendees experienced the technology through real-life scenarios, including heavy traffic navigation. The event featured presentations from CEO Alex Rodrigues, CFO Richard Hawwa, and a fireside chat with former Secretary of Transportation Elaine Chao discussing AV policy. Embark is moving forward with its business combination with Northern Genesis Acquisition Corp. II (NGAB), expected to close in H2 2021, pending shareholder approval.
Embark Trucks, a leader in autonomous trucking technology, has established a new strategic advisory board comprising renowned industry executives to support its expansion and innovation efforts. The board members bring over 150 years of combined experience in trucking and supply chains. CEO Alex Rodrigues expressed that their expertise will be vital for achieving commercial driver-out operations by 2024. This announcement coincides with the impending merger with Northern Genesis Acquisition Corp. II (NGAB), anticipated to conclude in late 2021, which will transition Embark to a publicly traded entity under the ticker EMBK.
Embark Trucks Inc. and ZF announced a collaboration to test and integrate ZF’s ReAX adaptive steering technology with Embark's Universal Interface (EUI) to enhance the safety and performance of self-driving trucks. This partnership aims to facilitate trials on trucks from major OEMs like Freightliner and Volvo, with the EUI simplifying integration of autonomous tech. The collaboration follows Embark's recent advancements, including partnerships with NVIDIA and Ryder. The company plans to go public under the ticker 'EMBK' after merging with Northern Genesis Acquisition Corp. II (NYSE: NGAB).
