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Embark Technology, an early mover in autonomous trucking that ran out of money to get to commercial production, said Thursday it would go private in a $71 million all-cash merger with Applied Intuition Inc. Upon completion of the merger, Embark will cease to trade on the Nasdaq. Embark went public in November 2021 in a…
FreightWaves is hosting its next virtual event, the Enterprise Fleet Summit, on Wednesday. Enterprise trucking fleets exist in an increasingly competitive landscape, but also have more opportunities than ever before. As many fleets are adopting progressive technology strategies, this daylong virtual summit will examine the components of a successful enterprise fleet and will tackle the…
Americold Realty Trust plans to locate warehouse facilities along the rail network of Canadian Pacific Kansas City (CPKC) as part of wider plans to expand intermodal transportation options and cold storage offerings for markets in the U.S. Midwest and Mexico. The collaboration will also enable shippers to experience streamlined border crossing procedures, according to the…
Layoffs continue across the freight and logistics industry, with companies in Florida, Georgia, Illinois, Michigan and Texas announcing job reductions and facility closures over the past two weeks. Universal Logistics Warren, Michigian-based Universal Logistics is permanently shuttering two of its subsidiaries and laying off a total of 677 employees, according to notices recently filed with…
The fifth generation of Kodiak Robotics’ autonomous truck design moved more components into mirror-mounted SensorPods, eliminating the “unibrow” of cameras and radars above the windshield that suggests a science project rather than a production truck. Kodiak is aiming for the same end-of-2024 time frame that competitors TuSimple and Aurora Innovation point to for limited driverless…
Short line rail operator Genesee & Wyoming (G&W) announced Tuesday that Grupo Mexico Transportes (GMXT) will become its partner in CG Railway LLC, a rail car-ferry operation linking ports in the U.S. and Mexico. GMXT is purchasing Seacor Holdings Inc.’s stake in CG Railway. Seacor and G&W initially formed the joint venture in 2017 to…