Today’s Pickup: Apple confirms development of autonomous tech

Good day,

Apple CEO Tim Cook confirmed in a Bloomberg interview on Tuesday that the company is working on autonomous technology, further fueling speculation that the software giant is developing a self-driving Apple car.

Cook would not confirm what the technology is for, but Morgan Stanley analysts believe it will be a car. “This is because Apple argues it is most successful when it vertically integrates in a market, controlling the hardware and software and creating a platform,” they wrote. 

If Apple follows this path, it could lead it into direct competition with Tesla, which is developing its own autonomous car, and Google, whose subsidiary Waymo is working toward autonomous vehicles as well, including a commercial truck.

Did you know?

According to a report from the Los Angeles County Economic Development Corp, Southern California trade and logistics sector moved 598.3 million tons of freight in 2015 and directly employed 580,450 people, up 9.7% from 2005. In all, the industry supported 1.2 million jobs.

Quotable:

“In trucks, of course [Elon Musk’s] stepping into it, but we don’t see him as someone who is threatening to us because you need a whole infrastructure. You need dealerships, you need infrastructure, you need maintenance.”

– Marc Llistosella, head of Daimler Trucks Asia

 In other news:

Trailer orders exceed expectations

Even as truck orders moderate, trailer orders continue to climb, with May orders showing a 24% gain according to data. (Transport Topics)

Spot rates soar

Spot rates and loads both climbed across the board last week, according to the latest data from DAT. Available loads were up 30%. (Heavy Duty Trucking)

Automation poised to disrupt Southern California logistics

Southern California trade and logistics firms are embracing automation, but it stands poised to reduce the number of jobs in the future. (Pasadena Star News)