bogarde73 wrote on Nov 15
th, 2017 at 2:57pm:
Silicon Valley startups, technologists, and venture capitalists see great potential in the technology - even more than most traditional trucking companies are supporting.
For months, Tesla CEO Elon Musk has put out teasers that the electric carmaker will soon reveal an electric semi-truck with autonomous capabilities. That announcement may take place this week, on November 16.
Embark, a Silicon Valley start-up, is scheduled to release details next week on its self-driving technology for trucking. The automated system has tested in partnership with truck-leasing company Ryder and Electrolux, an appliance manufacturer. Trial runs are exploring the potential of transporting trailers to Electrolux’s California warehouses with autonomous trucks.
CB Insight, which tracks venture capital, reports that companies will place about $1 billion in commercial truck autonomous systems this year, 10 times the level of spending three years ago.
The $700 billion trucking industry continues to be an integral part of the U.S. economy, and that of other economic giants and developing countries around the world. With more manufacturing happening overseas in places like China, trucking is part of making sure everything from automobiles to packaged food products make it to warehouses and end users on time.
Trucking companies and giants who invest heavily in logistics—like Amazon and Walmart—see great potential in cutting costs and speeding up delivery times. That will come via cutting labor costs when truck drivers no longer become necessary, and by extending the hours that commercial trucks can be kept in operation.
Companies also believe that traffic accidents will be reduced when autonomous vehicles become widely adopted for passenger and cargo transport.
Insurance premiums are expected to go down, along with collision repair costs. Autonomous driving is expected to be much safer than what’s delivered by human drivers.
Waymo and other tech companies and automakers currently testing out self-driving cars are preparing to play a part in developing cities around the world. Government officials, employers, and residents in these cities hope that self-driving cars will eventually reduce the number of cars on the streets and make them safer with less car crashes.
Self-driving cars face tougher challenges navigating through crowded, chaotic city streets—and face even tougher regulatory hurdles to cross. Cargo trucks spend most of their time traveling down broad, open highways with much less traffic.
There’s also the practicality of several trucks “platooning” together on highways that simplifying the equation over companies like Waymo dealing with crowded cities and higher risk for collisions.
Volvo Trucks sees great potential in utilizing platooning systems for cost savings and achieving more efficiency in freight hauling. One autonomous truck can lead a platoon with two or more trucks following close behind, taking advantage of the aerodynamic efficiency.
The company successfully demonstrated on-highway truck platooning in California during March 2017. An alliance was set up for the trial run with Partners for Advanced Transportation Technology (PATH) at the University of California, Berkeley, to test three Volvo VNL 670 model tractors hauling cargo containers at the Los Angeles Port complex and along Interstate 110.
Volvo sees opportunities in achieving fuel savings, improving highway safety, and increasing the capacity of transportation systems.
:zerohedge
You should have invested in technology instead of flipping houses. Ever tried to get venture capital in Australia ? Silly risk averse house hoarding aussies wouldn't know what risk was