Autonomous Trucks
50 Shares EmailFacebookTwitterLinkedInAutonomous trucking startup Embark Trucks capped off one of the faster riches-to-rags stories of the SPAC era, announcing that it is laying off most employees and winding down operations. Shortly after, the team pivoted to self-driving trucks, focusing on highway driving. Embark is one of multiple startups in the autonomous trucking space that have since shuttered or fallen on hard times. Others include:San Francisco-based Otto, one of the earlier startups focused on self-driving trucks, sold to Uber for $680 million in 2016. After going public at an initial valuation around $8.5 billion, the company now has a market cap around $460 million.