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      <p>
        Uber's online freight matching solution, Uber Freight, has launched &quot;Uber Freight Exchange: Spot,&quot; which allows carriers to manage spot freight fulfillment using smart search, bidding, upfront pricing, and automated tendering without revealing specifics.
      </p>
    </li>
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      <p>
        It centralizes spot freight for carriers, starting with loads from multiple shippers in Uber Freight&rsquo;s managed transportation and brokerage. The service offers combined load pricing, automated bidding, and tendering.
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      <p>
        Key features of this platform include Uber Freight&rsquo;s Carrier Web Portal, Freight Allocation Module (FAM), and proprietary algorithms to support scalable workflows. The platform also provides personalized search and recommendations based on front-loaded load requirements.
      </p>
    </li>
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  <p>
    <a href="https://www.globenewswire.com/news-release/2024/05/16/2883256/0/en/Uber-Freight-Advances-Vision-for-Industry-Wide-Procurement-Platform-with-Uber-Freight-Exchange-Spot.html">
      Press release
    </a>
  </p>
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Truck Industry Tech

INCUMBENTS_PRESENT

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 <p>Uber Freight, Uber's online freight matching solution, has introduced "Uber Freight Exchange: Spot." This new feature offers carriers the ability to manage spot freight fulfillment with smart search, bidding, upfront pricing, and automated tendering without revealing specifics.</p>
 <p>The service gathers spot freight for carriers from multiple shippers in Uber Freight’s managed transportation and brokerage, providing consolidated load pricing, automated bidding, and tendering.</p>
 <p>The platform's main features include Uber Freight’s Carrier Web Portal, Freight Allocation Module (FAM), and exclusive algorithms designed to support scalable workflows. Additionally, the platform offers personalized search and recommendations based on pre-determined load requirements.</p>
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Uber Freight launches ‘Uber Freight Exchange: Spot’ for intelligent spot freight fulfillment

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 <p>Freight network orchestration and procurement platform, GoodShip, landed USD 8 million in a Series A funding round. The round was led by Bessemer Venture Partners, with participation from Ironspring Ventures, Chicago Ventures, FUSE VC, Cercano Management, 53 Stations, and various angel investors. This increase brings GoodShip's total funds to USD 15.4 million.</p>
 <p>GoodShip plans to use the newly acquired capital to expand its team, advance product development, and enhance customer support.</p>
 
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GoodShip raises USD 8 million in Series A funding to expand product development and team expansion

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 <p>Mullen Automotive, an electric vehicles (EVs) manufacturer owned by Net Element, has secured a total of USD 150 million in funding. This consists of a USD 100 million commitment by an undisclosed family office and USD 50 million raised through the sale of senior secured convertible notes to high-net-worth investors and family offices.</p>
 <p>The company plans to use these funds to boost Mullen's sales efforts both domestically and internationally for the next 13 months.</p>
 <p>A portion of the capital will be directed towards the serial production of an acquired EV truck maker, Bollinger's B4, a heavy-duty EV truck.</p>
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Mullen raises USD 150 million to produce Bollinger EV trucks and support sales efforts

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 <p>The European Union has passed a stringent regulation stipulating that by 2040, majority of new heavy-duty vehicles need to be emission-free to achieve a 90% reduction in CO2 emissions from trucks. This move would prompt a significant boost in the production and sales of electric and hydrogen fuel trucks.</p>
 <p>Currently, diesel-powered trucks dominate in Europe, accounting for a quarter of the continent’s road transport emissions, and contributing to various health issues related to air pollution.</p>
 <p>The regulation sets forward-looking targets urging truck manufacturers to cut down CO2 emissions by 45% by 2030, which is a revision from the previous 30% target. Furthermore, it demands a 65% reduction by 2035. Furthermore, starting from 2030, about 90% of all new urban buses sold must be zero-emission, a requirement that is set to increase to 100% by 2035.</p>
 <p>While the European Automobile Manufacturers' Association (ACEA) labels these regulations as the most severe emissions rules globally, their success is heavily reliant on substantial government funding in electric charging infrastructure. The aim is to establish around 50,000 truck-compatible charging stations by 2030.</p>
 
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EU approves regulations for heavy-duty vehicles to slash emissions by 90% by 2040

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 <p>Gatik, a company specializing in autonomous trucks for middle-mile delivery, has secured a partnership and funding of USD 30 million from Japanese automobile manufacturer, Isuzu Motors. </p>
 <p>This investment will assist in building their autonomous driving operations in North America, along with a collaborative effort to create a fresh redundant chassis specially designed for autonomous driving systems.</p>
 <p>Isuzu Motors, in alliance with Gatik, has a future vision to launch a Level 4 autonomous commercial vehicle business dedicated to middle-mile deliveries by 2027, which implies fully autonomous vehicles that operate within certain pre-determined locations or conditions.</p>
 
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Gatik receives USD 30 million from Isuzu and partners with the same

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 <p>UK-based electric truck firm Tevva is seeking to appoint administrators as it faces potential insolvency, instigated by the need to secure additional funding to keep the company operational. </p>
 <p> Although Tevva had earlier attained preliminary deals with big names including Royal Mail and Travis Perkins, it is now struggling with financial problems brought about by harsh global economic circumstances affecting electric vehicle startups. </p>
 <p> An unsuccessful merging attempt with the Canadian company ElectraMeccanica in <a href="https://sp-edge.com/updates/22979"> October 2023 </a> has aggravated Tevva's situation, resulting in legal battles, and inciting an urgent need for investment to uphold its operations. </p>
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Tevva prepares to appoint administrators while seeking funding

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 <p>Online freight brokering platform, NEXT Trucking, has introduced new services and programs following its <a href="https://sp-edge.com/updates/26624">merger</a> with digital freight broker CDL-1000. The objective behind these updates is to enhance the user experience for both shippers and carriers using the joint resources and expertise of the companies.</p>
 <p>New updates cover the launch of a video content library that demonstrates the benefits of NEXT's tech platform, infrastructure services, and logistics expertise, as well as industry collaborations. Another primary improvement is the introduction of an optimized quoting tool deploying Artificial Intelligence/Machine Learning (AI/ML) to deliver real-time drayage and truckload quotes. The Bring Your Own Carrier (BYOC) program has also been launched, which allows shippers with their capacities, to utilize NEXT's technology. Finally, NEXT has upgraded its ATLAS Chassis OCR and initiated a new leasing program.</p>
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NEXT Trucking announces product and program updates to enhance user experience

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 <p>high-performancePlus, an autonomous truck manufacturer, has launched a new product named PlusProtect. This product is AI-based software designed to enhance the safety systems of all vehicles. It emphasizes on advanced features like automatic collision mitigation.</p>

 <p>PlusProtect is equipped with a number of key features. These include high-performance automatic emergency braking (AEB), expanded lane departure warning, traffic jam assist, predictive fuel optimization, self-calibrated sensors, and the ability to receive updates over the air.</p>

 <p>The software also offers additional features that comply with general safety regulations (GSR). Moreover, it comes with an event data recorder that can retrieve and provide essential data during critical safety incidents.</p>
 
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Plus launches AI-based safety software 'PlusProtect' for vehicle manufacturers

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 <p>Rivian, the manufacturer of electric vehicles, has announced the dismissal of 92 employees throughout multiple locations in Orange County, in a bid to cut costs. The decision has been influenced by diminishing sales, vying to maintain the business cost-effective. Rivian's goal is to adapt its main operations and reach positive gross margin by the year's end. The majority of the jobs being cut are within the support roles.</p>
 <p>This is coming on the heels of a previous layoff where 191 salaried staff in the county were let go just a couple of months prior.</p>
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Rivian lays off 92 employees in cost-cutting effort

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 <p>Amazon has collaborated with Volvo Trucks in a mission to utilize fifty Volvo VNR electric semi-trucks in their ocean freight operations. This indicates the first use of electric trucks in Amazon's ocean freight operations.</p>
 <p>The deployment will occur in California, where the trucks will transport heavy cargo containers and customer packages in Amazon’s initial and middle-mile operations. The company will operate these trucks in the ports of Los Angeles and Long Beach. By the end of the year, Amazon anticipates having 12 of these trucks in service. Furthermore, these trucks have the potential to cover over a million miles each year without emitting any harmful substances.</p>
 <p><b>Analyst Quick Take: </b> These electric semi-trucks are set to enhance Amazon’s last-mile delivery system, which currently comprises over 3,000 <a href="https://www.aboutamazon.eu/news/sustainability/amazon-rolls-out-first-electric-vans-from-rivian-in-europe"> Rivian </a> electric vans in use in the US. Furthermore, Amazon and <a href="https://sp-edge.com/updates/13591"> Volvo Trucks </a> have collaborated on the deployment of electric heavy-duty trucks in Germany, aside from the current project.&nbsp;</p>

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All Updates

Uber Freight launches ‘Uber Freight Exchange: Spot’ for intelligent spot freight fulfillment

GoodShip raises USD 8 million in Series A funding to expand product development and team expansion

Mullen raises USD 150 million to produce Bollinger EV trucks and support sales efforts

EU approves regulations for heavy-duty vehicles to slash emissions by 90% by 2040

Gatik receives USD 30 million from Isuzu and partners with the same

Tevva prepares to appoint administrators while seeking funding

NEXT Trucking announces product and program updates to enhance user experience

Plus launches AI-based safety software 'PlusProtect' for vehicle manufacturers

Rivian lays off 92 employees in cost-cutting effort

Amazon partners with Volvo to add electric semi trucks to California fleet

Truck Industry Tech

Uber Freight launches ‘Uber Freight Exchange: Spot’ for intelligent spot freight fulfillment

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