Companies will test prototypes, share data, and
exchange technical information as Embark furthers its OEM-agnostic
approach.
Embark Trucks Inc., a leading developer of autonomous technology
for the trucking industry, and ZF, a top global Tier-1 supplier,
today announced a collaboration to test, validate, and integrate
ZF’s ReAX adaptive steering technology to ensure compatibility with
the Embark Universal Interface (EUI). This collaboration will
enable the validation of the ReAX steering system and core
algorithm, ultimately leading to a safer and more performant
autonomous technology stack. Both companies pursue an OEM-agnostic
approach with the trucking industry, cooperating with both OEM and
fleet customers and providing them with the technology to safely
operate.
With the EUI, Embark enables carriers to begin trials and
deployment of Embark self-driving software on trucks from the
carriers’ preferred OEM. The EUI is a set of standardized
self-driving modules and the flexible interfaces necessary to more
easily and robustly integrate Embark's autonomous technology onto
truck OEM vehicle platforms. The EUI is currently in development
for trucks from the four major OEMs in the U.S. – Freightliner,
Navistar International, PACCAR, and Volvo – representing the vast
majority of the Class-8 trucks on the road nationwide.
Embark has tested ZF technology for four years and this
collaboration will take the relationship to the next level. ZF will
provide access to the prototype ReAX steering solution and
engineering support to Embark, including installation and operation
of the system. In turn, Embark will integrate and test ReAX with
the EUI, and will relay data and results to ZF in order to promote
continued development and improvement of a self-driving system that
is compatible across OEM platforms.
“As the autonomous trucking sector grows, it’s incumbent upon
Tier-1 suppliers like ZF to outfit technology companies and OEMs
with next-generation solutions,” said Julien Plenchette, vice
president, Americas, Commercial Vehicle Solutions Division, ZF
Group. “Our collaboration with Embark provides additional data for
critical testing and validation of the ReAX steering solution and
will ensure that Embark’s autonomous trucks are equipped with
best-in-class steering innovations as the company pursues its
commercialization effort.”
Automated vehicles (L4+) require some level of subsystem
redundancy to allow for continued operation in a faulted state. For
example, under conditions such as loss of communication or
ignition, ZF ReAX steering system can be enabled to support fail
operations.
“Embark is a major proponent of ZF’s ReAX approach because it
creates an interface point that’s common across columns and gears,”
said Brandon Moak, CTO of Embark. “It’s important to get all the
industry players – including Tier-1 suppliers – on board to create
a robust self-driving platform, as well as an end-to-end support
and maintenance ecosystem for self-driving trucks.”
This joint effort with ZF comes on the heels of continued
technical and business progress at Embark. In the last two months,
Embark unveiled a collaboration with NVIDIA to power the EUI with
the NVIDIA DRIVE platform, launched an electric truck drayage pilot
in Los Angeles with HP and BYD, and partnered with Ryder to build
out a nationwide transfer point network. In June 2021, Embark
unveiled its go-to-market strategy and entered into a definitive
business combination agreement with Northern Genesis Acquisition
Corp. II (NYSE: NGAB) (“Northern Genesis 2”). Upon closing of the
proposed business combination in the second half of 2021, subject
to a vote by the shareholders of Northern Genesis Acquisition Corp.
II, Embark will become a publicly traded company and will list on
the NASDAQ under the ticker symbol “EMBK.”
About Embark Trucks
Embark is an autonomous vehicle company building the software
powering autonomous trucks, focused on improving the safety,
efficiency, and sustainability of the nearly $700 billion a year
trucking market. Headquartered in San Francisco, CA since its
founding in 2016, Embark is America’s longest-running self-driving
truck program. The company partners with some of the largest
shippers and carriers in the nation, collectively representing over
30,000 trucks.
Embark’s mission is to realize a world where consumers pay less
for the things they need, drivers stay close to the homes they
cherish, and roads are safer for the people we love. To learn more
about Embark, visit embarktrucks.com.
About ZF
ZF is a global technology company suppling systems for passenger
cars, commercial vehicles and industrial technology, enabling the
next generation of mobility. ZF allows vehicles to see, think and
act. In the four technology domains of Vehicle Motion Control,
Integrated Safety, Automated Driving, and Electric Mobility, ZF
offers comprehensive product and software solutions for established
vehicle manufacturers and newly emerging transport and mobility
service providers. ZF electrifies a wide range of vehicle types.
With its products, the company contributes to reducing emissions,
protecting the climate and enhancing safe mobility.
In fiscal year 2020 ZF reported sales of €32.6 billion. The
company employs more than 150,000 associates at approximately 270
locations in 42 countries.
For further press information and photos, please visit:
www.zf.com
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Embark’s and Northern
Genesis 2’s actual results may differ from their expectations,
estimates and projections and consequently, you should not rely on
these forward-looking statements as predictions of future events.
Words such as “expect,” “estimate,” “project,” “budget,”
“forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,”
“should,” “believes,” “predicts,” “potential,” “continue,” and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, Embark’s and Northern Genesis 2’s expectations with
respect to future performance. These forward-looking statements
also involve significant risks and uncertainties that could cause
the actual results to differ materially from the expected results.
Factors that may cause such differences include, but are not
limited to: (1) the outcome of any legal proceedings that may be
instituted in connection with any proposed business combination;
(2) the inability to complete any proposed business combination in
a timely manner or at all; (3) delays in obtaining, adverse
conditions contained in, or the inability to obtain necessary
regulatory approvals or complete regulatory reviews required to
complete any proposed business combination; (4) the risk that the
business combination may not be completed by Northern Genesis 2
business combination deadline and the potential failure to obtain
an extension of the business combination deadline if sought; (5)
the failure to satisfy the conditions to the consummation of the
transaction, including the adoption of the agreement and plan of
merger by the stockholders of Northern Genesis 2 and Embark and the
satisfaction of the minimum trust account amount following
redemptions by Northern Genesis 2’s public stockholders; (6) the
lack of a third party valuation in determining whether or not to
pursue the proposed business combination; (7) the risk that any
proposed business combination disrupts current plans and operations
and/or the impact that the announcement of the proposed business
combination may have on Embark’s business relationships; (8) the
inability to recognize the anticipated benefits of any proposed
business combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain key employees; (9) costs related to the any
proposed business combination; (10) changes in the applicable laws
or regulations; (11) volatility in the price of Northern Genesis
2’s securities due to a variety of factors, including changes in
the competitive and highly regulated industries in which Embark
plans to operate, variations in performance across competitors,
changes in laws and regulations affecting Embark’s business and
changes in the combined capital structure; (12) the possibility
that Embark or Northern Genesis 2 may be adversely affected by
other economic, business, and/or competitive factors; (13) the
impact of the global COVID-19 pandemic; and (14) other risks and
uncertainties separately provided to you and indicated from time to
time described in filings and potential filings by Embark and
Northern Genesis 2 with the U.S. Securities and Exchange Commission
(the “SEC”), including those discussed in Northern Genesis 2’s
Annual Report Form 10-K for the fiscal year ended December 31, 2020
(“Form 10-K”) and Quarterly Report on Form 10-Q for the quarter
ended June 30, 2021 and those that are expected to be included in
the registration statement on Form S-4 and proxy
statement/prospectus discussed below and other documents filed by
Northern Genesis 2 from time to time. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Embark and Northern Genesis 2
caution that the foregoing list of factors is not exhaustive and
not to place undue reliance upon any forward-looking statements,
including projections, which speak only as of the date made. Embark
and Northern Genesis 2 undertake no obligation to and accepts no
obligation to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions or circumstances
on which any such statement is based.
Additional Information About the Proposed Transactions and
Where to Find It
The proposed transactions will be submitted to stockholders of
Northern Genesis 2 for their consideration. Northern Genesis 2 has
filed a registration statement on Form S-4 (the “Registration
Statement”) with the SEC which includes a preliminary proxy
statement to be distributed to Northern Genesis 2’s stockholders in
connection with Northern Genesis 2’s solicitation for proxies for
the vote by Northern Genesis 2’s stockholders in connection with
the proposed transactions and other matters as described in the
Registration Statement, as well as the preliminary prospectus
relating to the offer of the securities to be issued to Embark’s
shareholders in connection with the completion of the proposed
merger. After the Registration Statement has been declared
effective, Northern Genesis 2 will mail a definitive proxy
statement and other relevant documents to its stockholders as of
the record date established for voting on the proposed
transactions. Northern Genesis 2’s stockholders and other
interested persons are advised to read the preliminary proxy
statement/prospectus and any amendments thereto and, once
available, the definitive proxy statement/prospectus, in connection
with Northern Genesis 2’s solicitation of proxies for its special
meeting of stockholders to be held to approve, among other things,
the proposed business combination, because these documents will
contain important information about Northern Genesis 2, Embark and
the proposed business combination. Stockholders may also obtain a
copy of the preliminary or definitive proxy statement, once
available, as well as other documents filed with the SEC regarding
the proposed transactions and other documents filed with the SEC by
Northern Genesis 2, without charge, at the SEC’s website located at
www.sec.gov or by directing a request to Northern Genesis 2.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN
APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY
AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS
OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION
CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.
Participants in the Solicitation
Northern Genesis 2, Embark and certain of their respective
directors, executive officers and other members of management and
employees may, under SEC rules, be deemed to be participants in the
solicitations of proxies from Northern Genesis 2’s stockholders in
connection with the proposed transactions. Information regarding
the persons who may, under SEC rules, be deemed participants in the
solicitation of Northern Genesis 2’s stockholders in connection
with the proposed transactions will be set forth in Northern
Genesis 2’s proxy statement/prospectus when it is filed with the
SEC. You can find more information about Northern Genesis 2’s
directors and executive officers in Northern Genesis 2’s Form 10-K
and Forms 10-Q filed with the SEC. Additional information regarding
the participants in the proxy solicitation and a description of
their direct and indirect interests will be included in the proxy
statement/prospectus when it becomes available. Stockholders,
potential investors and other interested persons should read the
proxy statement/prospectus carefully when it becomes available
before making any voting or investment decisions. You may obtain
free copies of these documents from the sources indicated
above.
No Offer or Solicitation
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there be any sale of securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210921005404/en/
Embark Trucks, Inc. Investor Relations: EmbarkIR@icrinc.com
Media: EmbarkPR@icrinc.com
Northern Genesis Acquisi... (NYSE:NGAB)
過去 株価チャート
から 11 2024 まで 12 2024
Northern Genesis Acquisi... (NYSE:NGAB)
過去 株価チャート
から 12 2023 まで 12 2024
