Why We Invest in Autonomous Trucking
Imagine if the next Uber or Lyft you called, showed up without a driver. That is where the future is headed. Autonomous vehicles are already on the road being tested in many states.
With the flood of news and announcements about autonomous vehicles, it’s easy to lose sight of what this technology means for the future. Most driverless vehicle operations are focused on developing cars or trucks that operate with no human oversight at all, or “level 5 autonomy.” The goal is to let software take over the driving, but this is still years away.
While some companies are working towards fully autonomous vehicles, the future of the trucking industry is in semi-autonomous semi-trucks. Remote-controlled trucks would be used for deliveries. Autonomous trucking will increase supply chain efficiency, reduce shipping costs, lower fuel consumption, improve the truck driver shortage, and save lives with fewer accidents. They’ll even create new jobs as drivers will be needed to monitor the trucks remotely for edge cases.
For the past two years, Hemi’s is proud to have backed Starsky Robotics, one of our earliest investments in autonomous vehicles. Starsky is now perfecting autonomous driving in Florida where they have one of the more progressive policies for testing. They recently filed a plan with the U.S. National Highway Traffic Safety Administration to use remote-controlled trucks for deliveries. Although a person would be controlling the truck from a distribution center to the highway, once the truck is on the highway its own sensors and autonomous system would take over. Starsky Robotics is the first company to publish a VSSA specific to automated trucks.
PlusAI is another one of Hemi’s portfolios that is making headline news. PlusAI is a autonomous trucking company focused on enabling large-scale autonomous commercial trucking fleets. They recently showcased their full-stack L4 autonomous truck technology at CES 2019. Together with the Full Truck Alliance (FTA) and NVIDIA, PlusAI is working to accelerate the development and commercialization of autonomous trucks in China. The group is in a unique position to utilize the NVIDIA DRIVE AGX Pegasus in large-scale commercial operations over the next several years, modernizing the long-haul transportation industry in China.
Also working on technology to enable people to remotely control autonomous vehicles, is Hemi’s portfolio company, Scotty Labs. The company’s first product is a teleoperations platform that lets humans virtually control cars. If something goes wrong, the system allows a human to intervene from the safety of their home, rather than from the car itself. The presence of a remote operator also helps companies reassure lawmakers and the public.
As Stefan Seltz-Axmacher, CEO and founder of Starsky Robotics explained, “There’s been a systemic problem in the U.S. that it’s hard to hire and retain long-haul truck drivers.” Ultimately, these advanced technologies benefit everyone. Hemi is excited to be an early backer of this emerging sector.
