In a bold stride into the future of transportation, SoftBank has placed a significant bet on Stack AV, an autonomous trucking venture launched by the brains behind the erstwhile Argo AI. With an investment speculated to exceed $1 billion, the new venture epitomizes the invigorated faith in the autonomous vehicle industry.
Background:
“The founders of the former self-driving unit of Ford Motor Co. and Volkswagen AG are launching a new autonomous trucking startup with backing said to be more than $1 billion from Japan’s SoftBank Group Corp.”
This monumental move follows the shutdown of Argo AI, once backed by Ford and Volkswagen, last year.
The Stack AV Vision:
Residing in Pittsburgh’s burgeoning tech corridor, colloquially known as Robotics Row, Stack AV has swiftly ramped up its operations, hiring 150 professionals and launching an active test fleet of trucks. Bryan Salesky, a prominent figure at Stack AV, illuminated their goal:
“We’re looking at full-autonomy, a very capable self-driving system that isn’t just constrained to one lane or exit to exit… We have to get to a point where these trucks can go anywhere for it to eventually get adopted.”
Investment Details:
While specifics remain under wraps, the investment is believed to be substantial. Matt Smith, an economic development official in Pittsburgh, mentioned expectations of SoftBank’s commitment being “north of $1 billion.”
SoftBank’s Involvement:
Masayoshi Son’s SoftBank, amid the pandemic-induced shift towards e-commerce, foresees immense potential in Stack AV to address the emergent logistical challenges. Kentaro Matsui, head of new business at SoftBank, encapsulated their faith, stating:
“Stack is led by industry veterans, Bryan, Pete, and Brett, who have been instrumental in shaping the AV industry…Under their leadership, coupled with SoftBank’s AI expertise and resources, we believe Stack’s AI-powered technology will fundamentally change the transportation of goods and supply chains.”
Competitors:
In the rapidly evolving landscape of autonomous trucking, Stack AV is poised against giants like Alphabet Inc.’s Waymo and startups like Aurora Innovation. However, Salesky remains undeterred, emphasizing the positive reception of their technology among potential partners.
Future Outlook:
Autonomous trucking promises a host of benefits, from addressing the long-standing issue of driver shortages to enhancing road safety and streamlining supply chains. On this, Salesky remarked,
“The lifesaving potential is huge, as well as the ability to improve supply chains, improve efficiency, improve uptime, and get things to where they need to go faster. A strong trucking industry is an important part of a robust economy.”
The future of freight, awaits…
The inception of Stack AV, buoyed by SoftBank’s massive investment, paints a compelling picture of the future of trucking. With seasoned pioneers at the helm, the venture seems primed for success. What are your thoughts on this significant move in the autonomous trucking sector? Share your insights in the comments below!
