Plus steers way into mass self-driving truck production

Plus steers way into mass self-driving truck productionPublished by: Sandy Bhadare on 18 May 2021Linklaters, Kirkland & Ellis, Sidley Austin and Shearman & Sterling have played a role in the mer...Linklaters, Kirkland & Ellis, Sidley Austin and Shearman & Sterling have played a role in the merger between trucking technology company Plus and special purpose acquisition company Hennessy Capital Investment Corp V.NASDAQ-listed Hennessy Capital Investment Corp V, a Wyoming-headquartered special purpose acquisition company (SPAC), and self-driving technology company in the trucking sector, Plus, have agreed to a business merger. The total addressable market for self-drive and long-journey trucking is projected to be about USD 1.2 trillion for the United States and China. Plus’ plans include the mass production of autonomously driven trucks, using various technology, beginning this year in partnership with one of the largest manufacturers of heavy trucks in the world, FAW. Another global manufacturer of trucks, IVECO, will also be working with Plus to develop self-driving trucks for distribution in China, Europe, and other various locations. In addition, Plus has formed strategic relationships with fleets across the US and China to implement a system for the commercial transportation of goods.