Navistar is partnering with self-driving technology startup TuSimple to shave up to five years off the timeline for autonomous semis. It is targeting 2024 to sell International-branded driverless trucks.
Navistar International Corp. (NYSE: NAV) took an undisclosed minority stake in startup TuSimple, whose valuation exceeds $1 billion.
The 2024 driverless target date vaults Navistar into the lead among manufacturers working on self-driving trucks. Daimler Trucks North America bought Torc Robotics in 2019 to accelerate its autonomous efforts. Daimler expects production closer to the end of the decade.
The driver accounts for 48% of the operating cost of a truck, Navistar said. A robotic truck costs more than a traditional truck. But the payback can come quickly depending on routes and how often the truck is used.
This is a developing story. Come back to FreightWaves for updates.
