Third company joins the ‘driverless truck race’

Key Concepts

• Autonomous Freight
• EV Fleet
• Proprietary Technology
• AI Permits
• Border Crossing
• Remote Operations
• Gradual Transition to Autonomy
• Commercialization Strategy

Autonomous Freight: A New Frontier

The discussion centers on the burgeoning field of autonomous freight and the potential for electric vehicle (EV) fleets to revolutionize the industry. A key argument presented is that the notion of self-driving cars replacing human drivers in the near future is highly unlikely due to the significant depreciation issues associated with EV fleets. This opens a potential window for the freight industry to lead in the adoption of fully autonomous fleets, potentially outpacing established players like Waymo and Tesla.

Corporation Three's Entry into the Autonomous Freight Market

A significant development highlighted is the impending public listing of an autonomous EV freight company, Corporation Three, on the New York Stock Exchange. This is being achieved through a reverse merger and is expected to occur in the first half of the next year. Corporation Three will join other companies like Kodiak AI in the driverless truck race.

Corporation Three's Technology and Operations

Charlie, a representative from Corporation Three, elaborates on the company's innovative approach to autonomous freight.

• Global Reach: Corporation Three operates in seven countries, including the Middle East and Europe, and serves notable customers such as Pepsi.
• Futuristic Vehicle Design: Their trucks are described as futuristic, lacking a traditional cab. This design is a result of their proprietary technology.
• Proprietary Autonomous Stacks: The company utilizes three proprietary components that enable autonomous transportation. At the core is a software that integrates sensor data from cameras and LiDAR technology into two separate autonomous driving stacks. These stacks are responsible for making driving decisions.
• Safety Case and Remote Operations: This technology is combined with a robust safety case, demonstrating how the vehicles can operate safely. The system also incorporates remote stations, implying a human oversight component.
• Built for Autonomy: The vehicles are designed for autonomy from the ground up, with the autonomous stack integrated from the initial build.

Gradual Transition and Customer Integration

The process of adopting autonomous freight is presented as a gradual transition, working closely with customers.

• Phased Automation: Initially, customers can choose which parts of the transportation process they want to automate. Loading and offloading are still handled by personnel at the loading/unloading stations.
• Future Automation: Corporation Three has conducted trials with technology providers for automatic loading and offloading, indicating a future where this aspect will also be automated. The focus is on automating the driving first, then expanding to other functions.

Regulatory Leadership and Safety Record

Corporation Three emphasizes its regulatory achievements and strong safety record.

• First AI Permits: The company was the first globally to obtain AI permits for heavy-duty autonomous vehicles to operate on public roads. They are currently operating in Tennessee.
• Zero Incidents: Through a step-by-step approach, collaboration with customers and regulators, and a focus on demonstrating the safety case, Corporation Three has achieved zero traffic incidents in their customer operations. This is a significant achievement, with the representative stating "0 batting a thousand."

Pioneering Border Crossings

A particularly noteworthy achievement is Corporation Three becoming the first autonomous freight mover to successfully complete a border crossing without a driver, between Norway and Sweden.

• Complexities of Border Crossings: This operation highlights the challenges of dealing with multiple regulators on each side of a border and managing different regulations.
• Communication and Supervision: The system is designed to communicate with border crossing operations. The autonomous vehicles are supervised by remote operators who can intervene if necessary.

Investor Sentiment and Commercialization Strategy

The discussion touches upon the current investor sentiment towards autonomous vehicle companies.

• Underperforming Stocks: Companies like Aurora and Kodiak have seen significant stock declines (e.g., Aurora down 39%, Kodiak down 40%, Aurora down 20%), indicating investor concerns about commercialization models.
• Corporation Three's Differentiator: Corporation Three aims to differentiate itself by focusing on a platform approach, electrification, customer integration, and a scalable market strategy. They believe investors are increasingly scrutinizing these aspects.

Conclusion

The video transcript suggests a shift in the autonomous vehicle landscape, with the freight industry poised to take a leading role. Corporation Three's innovative technology, gradual implementation strategy, strong regulatory standing, and pioneering achievements like driverless border crossings position them as a significant player. Their focus on a clear commercialization path and customer integration is presented as a key factor for success in a market where investor confidence is currently being tested.