FedEx joins the queue for eagerly awaited Tesla Semi truck
The company confirmed it had placed a reser...
FedEx has joined a number of its industry peers by placing an order for Tesla’s new electric Semi trucks.
The company confirmed it had placed a reservation for 20 Tesla Semi trucks, which are scheduled to begin production in 2019.
The vehicles will be operated by FedEx Freight, its less-than-truckload unit.
“FedEx has a long history of innovation and incorporating sustainability efforts throughout its global network,” said FedEx Freight president and CEO Mike Ducker. “Our investment in these trucks is part of our commitment to improving road safety while also reducing our environmental impact.”
Tesla says its new big rig will deliver a far better experience for truck drivers, while increasing safety and significantly reducing the cost of cargo transport.
Its advanced technologies, such as surround cameras and onboard sensors, help to aid object detection while also enabling Enhanced Autopilot for automatic emergency braking, automatic lane keeping, and lane departure warning.
The company also touts electric energy cost savings that are half that of diesel.
Elon Musk has said he expects Tesla to sell 100,000 or more of its electric trucks – dubbed the ‘Semi’ or S-Curve’ – by 2022.
Tesla announced the electric truck late last year and has already won orders from the likes of UPS, PepsiCo, Anheuser Busch, J.B. Hunt, and Walmart.
Uber Freight to Acquire Transplace in $2.2bn Deal
Uber Freight is to acquire logistics technology and solutions provider Transplace in a deal worth $2.25bn.
The company will pay up to $750m in common stock and the remainder in cash to TPG Capital, Transplace’s private equity owner, pending regulatory approval and closing conditions.
“This is a significant step forward, not just for Uber Freight but for the entire logistics ecosystem,” said Lior Ron, Head of Uber Freight, and former founder of the Uber-owned trucking start-up Otto.
Uber’s Big Play for Supply Chain
Transplace is one of the world's largest managed transportation and logistics networks, with 62,000 unique users on its platform and $11bn in freight under management. It offers truck brokerage and other capacity solutions, end-to-end visibility on cross border shipments, and a suite of digital solutions and consultancy services.
The purchase is the latest move by parent company Uber, which launched as a San Francisco cab-hailing app in 2011, to diversify its offering and create new revenue streams in all transport segments.
Transplace said the takeover comes amid a period of “accelerated transformation in logistics”, where globalisation, shipping and transport disruption, and widespread volatility are colliding.
Uber Freight plans to integrate the Transplace network into its own platform, which connects shippers and carriers in a dashboard that mirroring the intuitive experience found in its consumer vehicle booking and food ordering services.
“This is an opportunity to bring together complementary best-in-class technology solutions and operational excellence from two premier companies to create an industry-first shipper-to-carrier platform that will transform shippers’ entire supply chains, delivering operational resilience and reducing costs at a time when it matters most,” said Ron.
Frank McGuigan, CEO of Transplace, said the resulting merger will offer enhanced efficiency and transparency for shippers, and benefits of scale for carriers. “All in all, we expect to significantly reduce shipper and carrier empty miles to the benefit of highway and road infrastructures and the environment,” he added.
History of Uber Freight
Uber Freight was established in 2017 and separated into its own business unit the following year. In 2019 the company had expanded across the entire continental US, established a headquarters in Chicago. Later that year it launched its first international division in Europe, initially from a regional foothold in the Nertherlands, and later moving into Germany.
The logistics spinoff attracted a $500m investment from New York-based Greenbriar Equity Group in October 2020, and launched a new shipping platform for companies of all sizes in May, partly in response to a driver shortage in Canada.