💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Self-driving start-up Otto to test with truckers by year's end

Published 08/04/2016, 08:05 PM
Updated 08/04/2016, 08:10 PM
© Reuters. An Autonomous trucking start-up Otto vehicle during an announcing event in Concord
GOOGL
-
GOOG
-

By Alexandria Sage

CONCORD (Reuters) - Self-driving trucking start-up Otto is poised to put its software in the hands of long-haul truckers by the end of this year for testing, its co-founders said on Thursday.

Otto, co-founded by Google (NASDAQ:GOOGL) car and map project veterans Anthony Levandowski and Lior Ron, will also begin testing five retrofitted Volvo trucks at Northern California's autonomous vehicle testing grounds, GoMentum Station, in coming weeks.

By the end of the year, small owner-operators and larger commercial partners will begin using Otto's self-driving kit, Levandowski told Reuters at the facility in Concord, north of San Francisco, adding the company has a target of "thousands" of testers by 2017.

Otto has not yet announced when the technology will be ready for sale.

Launched in May, Otto focuses on maximizing the efficiency and safety of long-haul trucks, which spend much of their time on the side of the road as drivers rest.

The Otto trucks are equipped with a series of sensors and mapping technology to allow them to gauge their position on highways and make real-time driving decisions.

It's unknown just how Otto's partners will test the trucks, but Otto's vision allows the driver to leave the wheel, similar to a plane's "autopilot" system.

Many experts believe full self-driving technology will first roll out in the trucking sector, rather than in passenger cars. Autonomous driving lends itself to highways, where trucks do not have to contend with pedestrians and the myriad distractions of city streets.

Ron said trucks fitted with Otto software can drive more than double their normal daily mileage. "There is a very strong return on investment."

Since its launch, Otto has received hundreds of emails from mom-and-pop owner-operators around the country asking to use the technology, Ron said.

© Reuters. An Autonomous trucking start-up Otto vehicle during an announcing event in Concord

Otto's staff has more than doubled to 90 employees from 40 in May, and the self-funded company now has a fleet of five test trucks.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.