Global logistics leader secures truck
reservations as part of Embark’s Partner Development Program,
becoming first carrier with capabilities across all modes to
reserve access to the Embark Driver software
Embark Trucks, Inc., a leading developer of autonomous
technology for the trucking industry, today announced that DHL
Supply Chain, the North American contract logistics leader within
Deutsche Post DHL, is a member of the Partner Development Program
(PDP) and is part of the initial cohort that participated in
Embark’s ongoing reservation program, which counts over 14,200
reservations to date. DHL plans to deploy these autonomous trucks
within its operations upon commercial launch of the Embark Driver
software in 2024.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211028005341/en/
(Photo: Business Wire)
DHL brings unique insight to the PDP, with extensive and global
expertise across all modes, and a history of implementing
innovative technologies to improve operational efficiency and solve
supply chain challenges. Within the PDP, DHL and Embark conducted a
detailed network analysis to begin planning for key factors in
deployment, such as determining which lanes to prioritize, where
delivery times could be accelerated, and calculating truck volume
needs, among other considerations. This detailed planning by DHL
and Embark is intended to ensure that DHL is able to derive maximum
value from autonomous trucks once they are commercially
deployed.
"We are excited to deepen our partnership with DHL, defining
where and how autonomous trucks can best slot in alongside other
modes of transportation to deliver incremental value to DHL
customers," said Alex Rodrigues, CEO of Embark. "Through the
Partner Development Program, DHL and Embark are methodically
identifying the best-suited lanes and customers for early
deployment, building the groundwork ahead of 2024 commercial
deployment."
As a diversified 4PL with a holistic view of global supply
chains – with FTL, LTL, intermodal, ocean, and air expertise – DHL
represents the perfect early adopter of autonomous truck
technology. DHL’s autonomous truck reservations within the PDP arm
the company with a new mode of transportation equipped with a
series of unique operational and strategic advantages. With Embark
Driver-equipped trucks, DHL plans to reap the anticipated speed,
safety, and sustainability benefits of autonomous technology, and
pass them on to its global customer network.
“The logistics industry relies on advanced technology solutions
like automation to adapt to growing demand and increased
expectations around speed,” said Jim Monkmeyer, President,
Transportation, DHL Supply Chain. “DHL joined Embark’s PDP to
prepare for and mold the deployment of autonomous trucks across its
network. We’re thrilled to work together so that our end-customers
can unlock the efficiencies of autonomous freight.”
This latest digitalization investment by DHL is part of a core
component of the company’s “Strategy 2025 – Delivering excellence
in a digital world,” through Globalization, Digitalization,
Sustainability, and E-Commerce. DHL has renewed its commitment to
harness the sustained potential for profitable long-term growth
contained in its core logistics businesses. Furthermore, it will be
stepping up the digital transformation of the Group that is already
underway in all business divisions with a 2 billion euro investment
through 2025.
Embark continues to lead the industry with its bespoke planning
analyses, accounting for a variety of logistical and procedural
hurdles that need to be addressed to ensure seamless operation of
autonomous trucks for partners and customers across the country.
Looking ahead, Embark and DHL plan to work through key questions
such as which DHL facilities to map directly into Embark’s coverage
map to support point-to-point movements, where autonomous trucks
may provide an opportunity to grow total miles traveled, and how to
prepare the broader DHL workforce for this transformation.
This news comes ahead of Embark’s planned merger with Northern
Genesis Acquisition Corp. II (NYSE:NGAB) (“Northern Genesis 2”) and
listing on the NASDAQ on the week of November 9 under the new
ticker “EMBK. subject to a vote by the stockholders of Northern
Genesis 2.” Since publicizing the definitive business combination
agreement with Northern Genesis 2 in June 2021, Embark has added
members to the PDP, expanded its transfer point network, refined
transfer point operations, worked closely with Tier 1 suppliers on
the scaling of the Embark Universal Interface, and secured 14,200
non-binding reservations for its autonomous trucks.
About Embark
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
35,000 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 DHL – The logistics
company for the world
DHL is the leading global brand in the logistics industry. Our
DHL divisions offer an unrivalled portfolio of logistics services
ranging from national and international parcel delivery, e-commerce
shipping and fulfillment solutions, international express, road,
air and ocean transport to industrial supply chain management. With
about 400,000 employees in more than 220 countries and territories
worldwide, DHL connects people and businesses securely and
reliably, enabling global sustainable trade flows. With specialized
solutions for growth markets and industries including technology,
life sciences and healthcare, engineering, manufacturing &
energy, auto-mobility and retail, DHL is decisively positioned as
"The logistics company for the world".
DHL is part of Deutsche Post DHL Group. The Group generated
revenues of more than 66 billion euros in 2020. With sustainable
business practices and a commitment to society and the environment,
the Group makes a positive contribution to the world. Deutsche Post
DHL Group aims to achieve zero-emissions logistics by 2050 and
secured 14,200 non-binding reservations for its autonomous
trucks.
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 in the registration statement on Form S-4
and definitive proxy statement/prospectus 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 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 prospectus relating to the offer of the
securities to be issued to Embark’s shareholders in connection with
the completion of the proposed merger. The Registration Statement
has been declared effective, and 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 definitive proxy
statement/prospectus and any amendments thereto, 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 definitive proxy statement, 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 are set forth in Northern Genesis
2’s proxy statement/prospectus 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 are included in the proxy statement/prospectus.
Stockholders, potential investors and other interested persons
should read the proxy statement/prospectus carefully 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/20211028005341/en/
Embark Trucks, Inc. Investor Relations: EmbarkIR@icrinc.com
Media: EmbarkPR@icrinc.com
Northern Genesis Acquisi... (NYSE:NGAB)
Historical Stock Chart
From Nov 2024 to Dec 2024
Northern Genesis Acquisi... (NYSE:NGAB)
Historical Stock Chart
From Dec 2023 to Dec 2024
