Demand For Freight Trucking Is Rising
Capacity is tight
Demand for freight trucking is expected to grow 36% between 2020 and 20311. As demand increases, a persistent driver shortage will only get worse.
In 2018 the industry was short roughly 60,800 drivers.2 The shortage could rise to more than 160,000 by 2028.
Regulations3 limit drivers to 14 hours per day, with 11 hours spent behind the wheel. Actual driver utilization is just 7.5 hours per day.
In 2020, carriers rejected 25% of loads tendered,4 forcing shippers to find other ways to transport goods or pay more.
Autonomy Will Dramatically Increase Asset Utilization
And Lower Costs
With full autonomy, trucking industry operating costs could decline by about45%, saving the industry between $85 billion and $125 billion.5 In addition, new routing powered by connectivity and analytics can increase efficiencies by up to 25%.
Autonomy combined with route optimization is a powerful combination that is increasingly attracting the attention of forward-thinking carriers, shippers, truck OEMs, and other key players in the trucking industry. Many are exploring and selecting partners and approaches now to get ahead of the curve.
Locomation Makes Autonomy Safe And Profitable
From The Start
- The Locomation solution today is based on Autonomous Relay Convoys™ consisting of two trucks and two drivers.
- The human driver of the lead truck acts as the superior cognitive filter ahead of the follower truck’s autonomy system.
- We comply to safety standards ISO 26262, ISO 21448, and MIL-STD-882E and aim to be the first autonomous vehicle company to comply to the ANSI/UL 4600 standard.
- With the Locomation solution, a carrier can safely operate two trucks 20-22 hours a day, delivering 2x the cargo, 2x faster, 2x farther.
- We offer custom route optimization services based on a proprietary analysis of the nation’s interstate highway network.
- Carriers can select routes that meet the needs of their customers and maximize the operational efficiency offered by autonomy.
With the Locomation solution properly implemented, carriers can improve their operating margin by up to 30% through a combination of increased asset utilization of up to 130% and a reduction in expenses of up to 8% due to lower fuel consumption. These improvements could result in margin growth of 15-17%, inclusive of the cost of our solution.
Locomation Is On The Most Efficient Path To Full Autonomy
The most efficient path to full autonomy is to have trucks equipped with autonomous systems logging billions of miles on the road at the earliest possible stage. Locomation is on the road now, continually testing, and improving our autonomous system in real-world conditions, gathering real-world performance and safety data and driver feedback that enable continuous improvement. Locomation will achieve full autonomy in four phrases.
Locomation Has The World’s First Commercial Autonomous Truck Order
Our success with Wilson has attracted the interest of other trucking industry leaders. We have a strong pipeline of more than two dozen commercial carriers and shippers with private fleets.
Locomation’s Go-To-Market Strategy Enables Frictionless Adoption
Locomation Actively Participates In An Emerging Autonomy Trucking Ecosystem
Safety Is Built-In To Everything We Do