Aurora Innovation has raised $820 million in new capital. That will get the autonomous trucking developer through commercialization of driverless trucks in 2024 with a financial runway into 2025. The Pittsburgh-based company raised $600 million in a private placement of 222.2 million shares. Investors paid $2.70 a share. It plans to sell 73.3 million shares…
Welcome to the WHAT THE TRUCK?!? Newsletter presented by Frayt. In this issue, what to do if Yellow goes belly-up; why you should stop using UPS; AI in trucking; and more. Yellow and Teamsters play the blame game img flip Inability to make its monthly contribution — Yellow clapped back at the Teamsters on Wednesday…
On-demand capacity provider Fluid Truck announced Thursday it is launching an initiative, Fluid Truck Renew, to enable fleet owners to lease or rent out surplus capacity to bring in new revenue. The company, founded in 2016, is an app-based platform that connects businesses with available capacity of commercial vehicles including cargo vans, box trucks and…
Fuel is one of the biggest costs in ocean shipping, and fuel pricing has seen some big changes in recent months, featuring new dynamics that haven’t been seen in years. Prior to the IMO 2020 regulation implemented on Jan. 1, 2020, most of the world’s commercial ships ran on 3.5% sulfur fuel known as high…
Jeremy Reymer, CEO and founder of DriverReach, is joined on this episode of Taking The Hire Road by a progressive and innovative industry leader, Gregg Troian, president of PGT Trucking out of Aliquippa, Pennsylvania. PGT is well known for its innovative approach to all things flatbed — from investing in next-gen tech solutions to embracing…