As The Wall Street Journal (WSJ) reported Sunday (July 28), pressures on car company profits only add to the challenge of embracing electric vehicles (EVs), with several major automakers recently releasing earnings that missed market expectations.

Among the issues: warranty expenses, overstocked vehicle inventory, and problems with overseas operations. On top of that, the report said, investors are worried that the robust pricing power car companies had during the pandemic is waning. 

“The results of our competitors are not demonstrating that price pressure is going to vanish,” said Carlos Tavares, chief executive of Stellantis.

The report also noted that Wall Street’s enthusiasm for car companies’ connected car/EV ambitions have faded as well, as demand for electric cars hasn’t taken off as much as expected.

“The overarching feeling for the auto industry is that the good times can’t last,” said Martin French, managing director at auto consulting firm Berylls Strategy Advisors.

In one example of the way carmakers are putting their EV ambitions on hold, Ford announced last week a revised strategy for its Oakville Assembly plant in Canada. That facility was initially designed for EV production, and will now focus on manufacturing larger gasoline-powered versions of Ford’s popular F-Series pickup trucks.

As PYMNTS noted, this marks a shift from Ford’s original intention to launch three-row electric SUVs at Oakville in 2027, a delay attributed to slower-than-expected growth in EV demand.

And as that report asked, where do developments like these leave the future of EV sales? Jennifer Weiss, co-director, NC Clean Energy Fund, said that educating the public about the benefits of EVs is critical to making them a serious consideration for consumers.

“We have a huge hurdle right now getting people to test drive and trying things out and realizing they can do what they do on a daily basis with an electric vehicle,” she said.

“Dealerships right now don’t have a lot of electric vehicles on the lots. It’s the chicken and the egg. Until we see a lot more of the electric vehicles actually on the lots so people can test drive them and compare them to a traditional fuel vehicle, I think we have a little bit more of an uphill climb.”

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This move follows a successful limited launch of the platform in January, the company said in a Friday (July 26) press release.

The company also said Friday that it has closed on additional funding, bringing its total amount of funding raised externally to $12 million.

“Our vision at Curbee is to change car care for good,” Denise Leleux, CEO of Curbee, said in the release. “The dealers who have been with us since the beginning of the year are reporting immediate success, to the extent that our investors have injected more funds, allowing us to scale to serve any dealer nationwide.”

The Curbee platform enables established dealerships to add a mobile service business to their existing operation, according to the release. It offers auto dealers an end-to-end mobile service solution that can integrate into existing dealer management software.

The white-labeled mobile service experience offered by Curbee is designed to facilitate easy access for both dealership employees and customers, the release said. It features artificial intelligence (AI)-powered scheduling, predictive maintenance analytics, personalized customer communication tools and direct access to technician training and education programs.

Curbee built the platform based on its own experience running a mobile service operation, per the release. The company did so for three years, completing 20,000 visits across 9,000 consumer vehicles and 1,100 fleet and partner vehicles.

“At Curbee, our goals are aligned with those of our customer dealers: empowering them to offer excellent customer satisfaction, maximize revenue and sustain profitability by offering a service today’s vehicle owners demand,” Leleux said in the release. “Curbee is focused on empowering dealerships to succeed in today’s rapidly evolving automotive landscape.”

Consumers and fleets alike are increasingly calling on mobile service providers that enable them to have work done on their vehicles at their location, at the time that works best for them, Wrench CEO Ed Petersen told PYMNTS in an interview posted in June 2022.

“We talk to a lot of people, and whether it’s the OEMs, the big independent repair shops or what have you, they know this is where the world is heading,” Petersen said.

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In the second quarter GM reported a 40% year-over-year growth in U.S. EV deliveries, outpacing the industry’s 11% increase. The Cadillac Lyriq emerged as the top luxury EV in 22 states. GM is scaling production of models like the Chevrolet Equinox EV and preparing for upcoming launches such as the GMC Sierra EV and Cadillac Optiq to drive future growth. Despite market adjustments, GM remains focused on sustainable growth and profitability in the EV sector, supported by strategic partnerships and advancements in battery technology.

Next year, Barra noted, GM will follow with the Cadillac Celestiq, adding the company would then have a “beautifully designed EV” in every global luxury SUV segment.

“We’re going to focus on winning new customers with these nameplates, as well as with the next generation Chevrolet Bolt EV because they represent the largest growth opportunities for us,” Barra said during the company’s Q2 earnings call on July 23.

“But we’ve also made adjustments to ensure we have a balanced approach as the market develops. This includes deferring Buick’s first EV which had been planned for 2024. As we’re expanding choice, other barriers to EV adoption like public charging access are also improving.”

GM’s EV portfolio is expanding successfully and capturing greater market share, Barra noted, adding, “these initial outcomes are promising, as disciplined volume expansion is crucial for achieving positive variable profits from our EV portfolio by the fourth quarter, while also bolstering our strong ICE (internal combustion engine) margins.”

Early EV sales are “mostly incremental,” Barra added, as 54% of customers are new to GM. “We’re working to increase our conquest rate by raising awareness and launching new models. Our best-selling EV so far this year is the Cadillac Lyriq and it is now the market-leading luxury EV in 22 states including Florida, Texas and Michigan.”

The GMC Hummer EV and the Chevrolet Blazer EV are also building momentum, she said. To unleash the next cycle of EV growth, “we’re scaling production of the Chevrolet Equinox EV with its unique combination of performance, technology, range and affordability. We delivered our first 1,000 units late in the second quarter and the reaction from customers, dealers and the media is very strong.”

In fact, according to Barra, one product reviewer said, “Chevy seems positioned to grab a piece of the pie that no one else has quite grabbed onto yet, and we think that is spot on.”

GM is working to finalize commercial agreements with Tesla to give its customers access to their charging network. “The Ionna fast charging venture we joined is expected to bring its first chargers online before the end of the year, and customers are telling us the drive-thru plazas we’re rolling out with Pilot company are the best public charging experience out there.”

Given GM’s promising EV sales growth and trajectory, Barra said GM is “committed to growing responsibly and profitably in any demand environment. Over the next few years, third-party forecasters now see the EV market growing steadily, but more slowly than it did over the last few years.”

As a result, she said GM is adjusting its spending plans to make sure “we’re capital efficient and moving in lockstep with customers. For example, our Altium cells joint venture continues to ramp up domestic battery cell supply this year, which is helping drive profit improvement in our EV portfolio.”

Moving forward, Barra said, “We’re going to bring additional capacity online in a measured cadence. This will enable us to better optimize our battery chemistry and form factors to meet our customers’ needs on cost and range.”

GM also plans to reopen the Orion assembly as a battery electric truck plant in mid-2026, Barra noted, adding, “We’re confident that we can meet customer demand for standout EV trucks in the interim by leveraging the production capability and flexibility we have in factory zero. We will also continue to take advantage of the flexibility we have to mix production between ICE and EV at key plants.”

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The investigation is to “ensure the airline is following the law and taking care of its passengers during continued widespread disruptions,” Department of Transportation (DOT) Secretary Pete Buttigieg wrote on X (formerly Twitter) Tuesday (July 23) morning.

“All airline passengers have the right to be treated fairly, and I will make sure that right is upheld,” he continued.

.@USDOT has opened an investigation into Delta Air Lines to ensure the airline is following the law and taking care of its passengers during continued widespread disruptions.

All airline passengers have the right to be treated fairly, and I will make sure that right is upheld.

— Secretary Pete Buttigieg (@SecretaryPete) July 23, 2024

The announcement comes as Delta continues to deal with the fallout of what has been called “the worst IT outage in history,” triggered when a software update by security company CrowdStrike took down Microsoft’s systems.

“Banks, airlines, hospitals, fast food chains, retailers, even the Paris Olympics, and nearly any and every business relying on a Microsoft Windows computer system found themselves grappling with a massive disruption that brought critical services to a standstill,” PYMNTS wrote last week.

According to a report by Bloomberg News, Delta said it is “fully cooperating” with the DOT investigation and remains “entirely focused” on restoring operations. More than half of its systems rely on Windows, the report said.

Bloomberg also cited data from tracking service FlightAware showing that Delta had canceled 440 daily flights as of mid-morning Tuesday, or 12% of its normal schedule, bringing its total number of canceled flights to around 5,400. Other major airlines — American, United, and Southwest — had under 100 canceled flights the same day.

Delta CEO Ed Bastian had told several news media outlets on Monday (July 22) that it would take “another couple of days” to get all the airline’s operations running smoothly.

As PYMNTS wrote last week, the CrowdStrike incident shines a spotlight on the pervasive reliance on access to IT infrastructure in today’s digital economy and highlights fact that — as within the digital payments and commerce landscape — when systems go down, organizations need to make sure they have an analog backup in place.

“It’s really a core lesson in the ability to not have a single point of failure,” said CompoSecure/Arculus Chief Product and Innovation Officer Adam Lowe. “If you look at the systems and look at the way the tool affected the problem, it did not affect Linux servers. It did not affect Mac systems. It only affected Windows. That’s a challenge and it’s a lesson in picking alternatives to critical systems.”

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Ford’s decision follows second-quarter EV sales in the U.S. Ford led the pack among traditional automakers, with EV sales soaring 61% year over year to 23,957 units. This helped propel the company’s overall sales growth for the quarter and solidified its position as the second-largest EV seller in the U.S., ahead of General Motors.

The decision to focus on larger, gasoline-powered versions of its F-Series pickups in Canada marks a shift from Ford’s initial plan to launch three-row electric SUVs at Oakville in 2027, a delay attributed to slower-than-expected growth in electric vehicle demand, as stated in April. Despite this adjustment, Ford reiterated its commitment to the electric vehicle segment without specifying the new production location.

The global slowdown in electric vehicle demand has prompted industry leaders like Tesla and BYD to slash prices to stimulate sales, while traditional automakers such as Ford and GM recalibrate their electric vehicle ambitions. Ford reported substantial losses in its EV business in recent years, projecting further financial challenges in 2024, reinforcing its commitment to launching profitable next-generation EVs.

Ford has increasingly focused on hybrid vehicle production to appeal to consumers not yet ready to fully embrace electric vehicles. The company aims to quadruple hybrid production in the near term, buoyed by robust demand for its profitable F-150 trucks, produced across assembly plants in Kentucky, Ohio, and now Oakville.

Amid financial pressures in its EV sector, Ford’s commercial business has emerged as a profit center, with the company banking on software-related services to drive future profitability. The division achieved operating profit margins nearing 17% in the last quarter, underscoring its strategic importance within Ford’s broader portfolio.

Some key EV developments this month include:

• Online car marketplace Carvana unveiled new tools for a smoother electric vehicle buying and selling experience.
• Starbucks announced plans to partner with Mercedes-Benz High-Power Charging to install EV chargers at more than 100 of its stores across the U.S. This initiative kicks off along Interstate 5, a key travel route on the West Coast.
• In a bid to attract high-income EV owners, shopping centers worldwide are embracing EV charging stations. The trend gained momentum earlier this month when BP Pulse, BP’s EV charging unit, announced a partnership with Simon Property Group, the U.S.’s largest mall developer.
• The federal government will grant car and auto parts factories in eight states $1.7 billion to begin producing electric vehicles and other clean energy technology, the Biden administration announced July 11.

So, where does that leave the trajectory of EV sales?

According to Jennifer Weiss, co-director, NC Clean Energy Fund, educating the public about the benefits of EVs is crucial to making them a serious consideration for consumers.

“We have a huge hurdle right now getting people to test drive and trying things out and realizing they can do what they do on a daily basis with an electric vehicle,” she noted.

“Dealerships right now don’t have a lot of electric vehicles on the lots. It’s the chicken and the egg. Until we see a lot more of the electric vehicles actually on the lots so people can test drive them and compare them to a traditional fuel vehicle, I think we have a little bit more of an uphill climb.”

The post EV Ambitions on Hold: Ford Delays Canadian Electric SUV Production appeared first on PYMNTS.com.

Fleetio has added two new integrations to its fleet maintenance management software.

These integrations with FuelCloud and Fill-Rite will help businesses with on-site bulk tank fueling streamline fuel management, gain insights and optimize fleet fueling operations, the company said in a Tuesday (July 16) press release.

“Adding these capabilities to our growing suite of solutions helps fleets control costs and minimize exposure to market fluctuations,” Jake Martino, vice president, partnerships at Fleetio, said in the release.

FuelCloud provides on-site fuel management solutions, while Fill-Rite offers on-site fuel dispensing systems, according to the release. The integrations come at no additional charge to the companies’ mutual customers.

With these integrations, transactions automatically flow into Fleetio, ensuring fuel data stays up to date and eliminating the process of managing import templates and spreadsheets, the release said.

In addition, the integrations provide a comprehensive view of fuel expenses by automatically capturing site and tank information for each transaction, per the release.

The integrations also provide insights into fuel consumption, clarify how fuel contributes to overall operating costs and prevent fuel theft by sending alerts when discrepancies are detected — such as when the report fuel volume exceeds an asset’s tank capacity, the release said.

“Fleetio is committed to equipping fleet operators with the tools and insights they need to succeed,” the company said in the release. “This addition marks a significant step for streamlined on-site fuel management.”

Fleet management is inching toward becoming a beacon of connectivity, PYMNTS reported in February.

On July 2, FleetUp and RoadFlex said they have integrated their solutions to automate fleet expense management and fuel management, from data collection to reporting.

By combining FleetUp’s fleet and asset management solution and RoadFlex’s fleet expense management and fuel card solutions, the companies aim to ensure fleet cards are used only by the appropriate employees and vehicles, block and flag suspicious transactions, and alert managers if the wrong fuel type is purchased for a vehicle.

In June, Motive began offering its card customers its Missed Savings solution that uses shared fleet and spend management data to automatically determine where fuel spending is being wasted.

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First, the sales update. As the major car companies report their second-quarter 2024 sales, the results for overall electric vehicle (EV) sales are mixed with some very bright spots to report. Ford’s EV sales surged 61% year over year in Q2, with 23,957 units sold, leading to the automaker’s overall growth for the quarter. This performance allowed Ford to maintain its position as the second-largest EV seller in the U.S., ahead of GM but still trailing Tesla. The F-150 Lightning saw a 77% sales increase, remaining the top-selling electric truck. The Mustang Mach-E and E-Transit also experienced significant growth, up 46% and 96% respectively. In the first half of 2024, Ford sold 44,180 EVs, a 72% increase from last year. In a recent interview, Ford Motor Company CEO Jim Farley emphasized the company’s strategy to introduce smaller, more affordable EVs to compete globally while still expanding the overall audience.

“You have to make a radical change as an [automaker] to get to a profitable EV. The first thing we have to do is really put all of our capital toward smaller, more affordable EVs,” Farley told CNBC recently. “That’s the duty cycle that we’ve now found that really matches. These big, huge, enormous EVs, they’re never going to make money. The battery is $50,000. … The batteries will never be affordable.”

Tesla delivered 443,956 electric vehicles globally in Q2, exceeding Wall Street’s estimate of 439,302. Despite this, deliveries fell 4.8% year-over-year, following an 8.5% decline in Q1. This marks the longest streak of quarterly delivery declines since 2012. Tesla’s production also decreased by 14% to 410,831 units, influenced by a factory shutdown in Germany and shipment disruptions. However, Tesla’s expected focus on affordable cars and its energy storage segment could drive future growth.

GM reported selling 21,930 electric vehicles in the second quarter of 2024, a 40% increase from the same period in 2023, driven by the Cadillac Lyriq and Chevrolet Blazer EVs. This total includes 490 electric delivery trucks from its BrightDrop subsidiary. In the first half of 2024, GM’s EV sales reached 38,355, up 6% from 36,322 units in the first half of 2023, with 746 units sold at BrightDrop. All EVs sold this year utilize GM’s new Ultium propulsion system, replacing the previous Bolt and Bolt EUV models. GM plans to reintroduce the Bolt with Ultium technology in 2025.

Payment Issues

Part of the consumer apprehension about buying more EVs lands in the lap of the ability to access EV charging stations and then the ability to pay for that service. JD Power released a report in May that reinforce those concerns. “As the industry inches toward mass consumer adoption, the main roadblocks to getting consumers behind the wheel of an EV are the continued shortage of affordable vehicles, charging concerns and a lack of knowledge regarding the EV ownership proposition, including incentives,” said Stewart Stropp, executive director of EV intelligence at J.D. Power.

The ability to pay at the EV charging station has been addressed by several payment companies. For example, Visa advises its merchants that the success of a charging station often hinges on the ease of payment for customers. It recommends installing Visa-accepting terminals and offering contactless payment options can enhance the experience, while digital payment solutions, such as mobile app payments, should be complemented with tap-to-pay options for accessibility. Using the correct merchant code (MCC 5552) is crucial for bank rewards and reducing service issues. Clear checkout processes, whether estimating charges or using set amounts, Visa suggests, should be communicated to customers, with additional compliance for European merchants regarding customer authentication.

The payment issue has also been addressed in a recent U.S. Department of Energy report. “Best Practices for Payment Systems at Public Electric Vehicle Charging Stations,” authored by Kristi Moriarty and John Smart, addresses significant challenges in the payment processes at public EV charging stations. Key issues include the reliability of network connections, the robustness of hardware, and the integration of payment systems. The report emphasizes the necessity of strong network connections, suggesting the use of external antennas and redundant SIM cards to enhance connectivity. It also highlights the importance of durable, weather-resistant card readers and recommends regular maintenance to ensure functionality.

A crucial point from the report states, “Failure to accept and process payment is a cause of public electric vehicle (EV) charging session failures,” underscoring the need for reliable payment solutions to avoid service disruptions. The report also recommends standardized procedures for user interfaces to reduce customer confusion and improve overall user experience.

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The company said in a Wednesday (June 26) filing with the Securities and Exchange Commission (SEC) that it has changed its outlook for revenue per available seat mile (RASM) in the current quarter from its previous estimate of a year-over-year drop of 1.5% to 3.5% to its current estimate of a drop of 4.0% to 4.5%.

“The reduction in the company’s RASM expectations was driven primarily by complexities in adapting its revenue management to current booking patterns in this dynamic environment,” Southwest Airlines said in the filing. “Despite lowered expectations, the company continues to expect an all-time quarterly record for operating revenue in second quarter 2024.”

RASM is viewed as a measure of pricing power, and Southwest’s lowered outlook for its RASM comes at a time when travel is booming, the New York Post reported Wednesday.

The report attributed the airline’s projected drop to the industry adding flights and seats, thereby cutting their pricing power even though airlines expect to see a record amount of travel this summer.

Southwest’s pricing issues have also been caused by the airline’s difficulties in predicting demand trends, which have left it unable to sell the number of seats it expected to sell, Reuters reported Wednesday.

Across the industry, airlines increased their capacity, which led to their having to lower fares and suffer reduced profits, CNBC reported Wednesday.

United Airlines is among the members of the industry expecting to see another summer of record travel this year.

In its Wednesday SEC filing, Southwest Airlines said it is working to improve its financial results and will share details of its plans during its next earnings report and in a September investor day.

“The company remain intensely focused on improving its financial results and creating value for its shareholders as it continues to develop and implement its portfolio of strategic initiatives aimed at enhancing the customer experience; delivering operational excellence; creating new and meaningful revenue opportunities; expanding margins; and achieving return on invested capital well above the company’s weighted average cost of capital,” the company said.

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“There will likely be much more car production, and that will probably bode well,” Carvana CEO Ernest Garcia III told reporters Tuesday (May 14) at an Automotive Press Association event near Detroit, Bloomberg reported Tuesday.

Online car shopping guide Edmunds said in April that new vehicle inventory was “rebounding.”

“Compelling new product launches combined with the reintroduction of incentives and rebounding inventory in the new vehicle market are all positive signs for shoppers, but elevated interest rates have dampened any positive market momentum,” Jessica Caldwell, head of insights at Edmunds, said in an April 2 press release.

Garcia said May 1 during Carvana’s quarterly earnings call that the used car retailer’s inventory had been “constrained.”

“Our inventory is currently smaller than we would like, resulting in less selection available to our customers,” Garcia said during the call. “All else constant, we believe this is negatively impacting our sales volumes today.”

To address this challenge, Carvana has been ramping up production nationwide to expand selection levels for customers in the near term, enhancing its reconditioning capabilities that are crucial for scaling but require substantial physical infrastructure and regulatory approvals, and leveraging its existing infrastructure and developing a playbook to optimize reconditioning operations, Garcia said.

Carvana has also been sourcing cars for resale by enabling potential sellers to offer their cars and complete the deal from their desktop or mobile device. The company also uses sophisticated bidding algorithms to optimize its gross profit per unit (GPU).

For inspecting and reconditioning used vehicles to prepare them for resale, Carvana’s proprietary CARLI technology streamlines inspection processes, systemizes parts ordering and tracking, and uses machine learning (ML) to identify and manage costs.

“We have seen a more than $900 step-down in non-vehicle retail cost of sales since our peak over a year ago, and I think that’s been driven by many sources: getting better at managing the process of reconditioning, getting better at parts procurement and efficiency, and a number of things,” Carvana Chief Financial Officer Mark Jenkins said in February.

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That proverbial piece of advice, commonly leveled at business leaders and managers, has taken on a new meaning in light of the U.S. Department of Justice‘s (DOJ) investigation revealed Wednesday (May 8) into electric vehicle (EV) automaker Tesla’s Autopilot and Full Self-Driving (FSD) systems. 

The EV giant, known for its innovative approach to automotive technology, is currently under the microscope of U.S. federal prosecutors, as well as the U.S. National Highway Traffic Safety Administration (NHTSA). The NHTSA wants Tesla to share more information related to its autopilot system after crashes continued occurring despite a December recall of more than two million vehicles. 

At the heart of the controversies is Tesla’s Autopilot system, a driver assistance feature that has been available in Tesla vehicles for several years, and the more advanced Full Self-Driving package, which the company has been selling as an optional add-on. Despite their names, neither system can fully automate the driving process without human supervision, a point of contention that has raised questions about the accuracy of Tesla’s promotional materials and public statements.

The DOJ and NHTSA did not immediately reply to PYMNTS’ request for comment.

The implications of the federal investigations are significant, not only for Tesla but also for the broader automotive and technology industries. As companies continue to push the boundaries of autonomous vehicle capabilities, the outcome of this probe could set important precedents for how such technologies are developed, marketed and regulated in the future.

Read more: From Factories to the Fast Lane, Unpacking Autonomy’s Potential

Tesla Being Tested by Federal Investigations

During Tesla’s most recent earnings call, Musk described the car company as a next-generation autonomy and artificial intelligence (AI) platform, and not an EV manufacturer, and the CEO has become increasingly focused on self-driving technology as Tesla’s own car sales and profit slump.

The DOJ is reportedly investigating whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities.

The term “wire fraud” typically refers to any fraudulent scheme to intentionally deprive someone of money or property using electronic communication or information technology. The rise of online commerce and electronic banking further expanded the opportunities for wire fraud, as criminals become increasingly able to exploit vulnerabilities in online payment systems or use stolen financial information to conduct fraudulent transactions remotely. 

In the Tesla case, wire fraud would involve the company’s deception in interstate communications by misleading consumers about its driver-assistance systems. 

The probes are just the latest obstacle for the EV pioneer, which has also been undergoing a headcount reduction designed to cut its workforce by 10%. 

The company’s stock, which had been trading significantly down, jumped double digits on the news that Tesla plans to showcase its purpose-built robotaxi in August and that the company’s production was accelerating on a new, lower-cost Tesla model, PYMNTS reported April 24. 

As the investigations unfold, Tesla finds itself at a critical juncture. The company’s response to the allegations and its cooperation with regulatory authorities will be closely watched by investors, consumers and industry observers alike. 

Read more: Musk’s Master Robotaxi Plan: Giving Tesla the Uber, Airbnb Treatment

Navigating the Autonomy Landscape 

Tesla isn’t the only company struggling with its autonomous vehicle (AV) offerings. As PYMNTS reported, in another example of the challenges facing the autonomous mobility sector, Hyundai-backed self-driving car startup Motional on Tuesday announced that it was delaying its driverless taxi fleet, explaining that “large-scale deployment of AVs remains a goal for the future, not the present.”

For comparison’s sake, Motional’s autonomous vehicles are rated as a Level 4 equivalent, while Tesla’s autopilot capabilities are ranked at just Level 2.   

But that doesn’t mean there isn’t hope for the industry. On  Tuesday (May 7), Wayve, a software startup focused on self-driving cars, raised a whopping $1.05 billion Series C round to continue developing a “GPT for driving” AI system that can empower any vehicle to see, think and drive through any environment by reimagining autonomous mobility through embodied intelligence. 

On Wednesday, Daimler Truck unveiled a “demonstration vehicle” for an autonomous freight vehicle that has the potential to evolve into a modular, scalable platform that is propulsion agnostic for flexible use in different trucking applications — and is planned to launch in 2027. 

“Together with Torc, we are making significant progress towards introducing autonomous trucks in the U.S. by 2027,” said Joanna Buttler, head of Global Autonomous Technology Group at Daimler Truck. “While we target autonomous trucks with conventional propulsion technology for this first market launch, we always look further into the future. We will employ an iterative approach to the development, testing and optimization of autonomous-electric technology, while exploring the most promising use cases in collaboration with our fleet customers.”

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