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PACCAR, Aurora and FedEx Launch Autonomous Truck Commercial Pilot
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
PACCAR has partnered with Aurora and FedEx to launch a commercial pilot of autonomous trucks for linehaul operations. This pilot marks the first collaboration of its kind in the trucking industry. The autonomous trucks will transport FedEx loads between Dallas and Houston, covering a 500-mile round trip. This project builds on PACCAR's existing strategic alliance with Aurora, which was initiated in January 2021, aimed at enhancing safety and efficiency in trucking through autonomous technology.
Positive
First-of-its-kind collaboration in the trucking industry, potentially positioning PACCAR as a leader in autonomous trucking technology.
Commercial pilot involves transporting FedEx loads, indicating significant logistical partnerships and revenue potential.
Advancements in autonomous vehicle technology may enhance safety and operational efficiencies.
Negative
None.
BELLEVUE, Wash.--(BUSINESS WIRE)--
PACCAR has teamed up with Aurora, a leading autonomous driving technology company, and FedEx, one of the largest transportation and logistics companies in the world, to launch a commercial pilot of autonomous trucks in linehaul trucking operations. This is the first collaboration of its kind between a truck manufacturer, an autonomous technology developer and a logistics provider.
Starting today, PACCAR’s autonomously enabled trucks configured with the Aurora autonomous Driver will haul FedEx loads between Dallas and Houston, a 500-mile round trip, along the I-45 corridor. The trucks will operate autonomously, with a backup driver for additional safety. “PACCAR is pleased to partner with industry leaders FedEx and Aurora on this innovative project,” said John Rich, PACCAR chief technology officer.
“As leaders in our respective fields, we have critical and unique perspectives on how to develop and deploy safe, self-driving truck solutions for this industry,” said Sterling Anderson, Aurora chief product officer. “This collaboration allows for the creation of a cohesive and integrated product and service. We believe there is no other credible way to deliver this complex and valuable technology at scale.”
“FedEx was built on innovation, and we always anticipate what’s next to be future-ready,” said Rebecca Yeung, FedEx Corporation vice president, advanced technology and innovation. “This is an exciting, industry-first collaboration that will work towards enhancing the logistics industry through safer, more efficient transportation of goods and we are pleased to collaborate with other industry leaders – Aurora and PACCAR – on this endeavor.”
In January 2021, PACCAR announced a strategic alliance with Aurora to develop, test and commercialize autonomous Peterbilt and Kenworth trucks. The strategic alliance will integrate PACCAR’s state-of-the-art autonomous vehicle platform with the Aurora Driver to enhance the safety and operational efficiency of PACCAR’s customers. “This new commercial pilot collaboration demonstrates the excellent progress that PACCAR and Aurora are making in our strategic alliance,” added John Rich.
About PACCAR
PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR also designs and manufactures advanced powertrains, provides financial services and information technology, and distributes truck parts related to its principal business. PACCAR shares are listed on the NASDAQ Stock Market, symbol PCAR. Its homepage is www.paccar.com.
About FedEx
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $87 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its 560,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.
About Aurora
Founded in 2017 by experts in the self-driving industry, Aurora is on a mission to deliver the benefits of self-driving technology safely, quickly, and broadly. To move both people and goods, the company is building the Aurora Driver, a platform that brings together software, hardware and data services to autonomously operate passenger vehicles, light commercial vehicles, and heavy-duty trucks. Aurora is backed by Sequoia Capital, Baillie Gifford, funds and accounts advised by T. Rowe Price Associates, among others, and is partnered with industry leaders including Toyota, Uber, Volvo, and PACCAR. Aurora tests its vehicles in the Bay Area, Pittsburgh, and Northern Texas. The company has offices in those areas as well as in Bozeman, MT; Seattle, WA; Louisville, CO; and Wixom, MI. To learn more, visit www.aurora.tech.
What is the significance of PACCAR's partnership with Aurora and FedEx?
The partnership represents the first collaboration in the trucking sector involving a manufacturer, autonomous technology developer, and logistics provider, aiming to enhance efficiency and safety.
What is the route for the autonomous trucks in the PACCAR and FedEx pilot?
The autonomous trucks will operate between Dallas and Houston, covering a 500-mile round trip along the I-45 corridor.
When was the strategic alliance between PACCAR and Aurora announced?
The strategic alliance was announced in January 2021, focusing on developing, testing, and commercializing autonomous trucks.
How does this pilot project impact PACCAR's stock symbol PCAR?
The pilot project may positively influence investor sentiment towards PACCAR, potentially affecting stock performance due to advancements in technology and partnerships.
What does FedEx aim to achieve through its collaboration with PACCAR and Aurora?
FedEx aims to enhance logistics through safer, more efficient transportation of goods, highlighting its commitment to innovation.
