The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, autonomous trucking startup Plus.ai seeks new funding, Daimler suggests a surprise in second-quarter earnings is coming, robots are taking over and trucking still rules the freight world.
That’s a lot of cash
Autonomous trucking startup Plus.ai is looking to raise more cash. According to reports, the company is seeking $60 million and a valuation in the range of $600 million to $1 billion. Other autonomous startups like Starsky Robotics have struggled and even failed, so what makes Plus.ai different?
Linda Baker has the inside story: Autonomous trucking startup Plus.ai reportedly seeking $60M
Daimler previews Q2 earnings, but also job cuts
Global truck manufacturer Daimler, which owns Freightliner and Western Star in North America, is expecting to report better-than-anticipated earnings when it announces second-quarter results next week. But, the company is looking to slash 2 billion euros from its bottom line through staff cuts, the equivalent of 20,000 global positions.
Alan Adler has the details: Daimler previews Q2 earnings upside surprise
Here come the robots
Surging e-commerce volumes combined with the COVID-19 pandemic have brought about a revolution in warehousing. Where robots were once fun toys, they are quickly becoming critical tools for warehouse operators that need to adapt to quickly changing customer demand and unpredictable volume surges.
Linda Baker explores the robotic revolution: Mobile robots feed warehouse demand for adaptability
Trucking still rules
The trucking industry is still the king when it comes to moving freight. According to data compiled by the American Trucking Associations, the trucking industry generated almost $792 billion in revenue in 2019 and moved 11.84 billion tons of freight. Those figures represent 80.4% of the nation’s freight bill.
Alan Adler dives into the numbers: ATA: Trucking still rules freight movement
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According to the U.S. Department of Transportation, regulatory streamlining by the Trump administration has saved the nation $90 billion since 2017. Leading the way is the hours-of-service final rule, which is reducing regulatory costs by $4 billion, DOT said. Automotive fuel saving initiatives and changes to rail regulations are also projected to provide significant savings.
John Gallagher has more details on the savings DOT has found: US DOT claims $90 billion saved under Trump
Hammer down, everyone,