Embark Partners With Alterra on Transfer Points
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Autonomous truck software developer Embark Trucks Inc. announced a strategic partnership with Alterra Property Group, a real estate investment company focused on industrial outdoor storage properties, to identify and launch transfer-point sites across the Sunbelt.
Philadelphia-based Alterra’s storage properties can accommodate vehicle and trailer parking.
The company will identify, purchase and lease sites optimally sized and located for transfer points.
It currently owns a nationwide real estate portfolio with more than 100 properties across 27 states.
In the short term, Embark and Alterra intend to identify standardized, turnkey sites that provide Embark the ability to quickly scale up at a particular site with minimal lead time or development costs, according to Embark. Over time, Embark and Alterra will investigate what they called “more creative” physical and economic structures, such as allowing Embark to grow across a site over time or allowing Alterra to participate in the economic upside of on-site activity through per-use price structures.
We're partnering with Alterra, one of the largest real estate investment companies in the US, to identify and launch transfer points across the US Sunbelt and accelerate the rollout of the Embark Coverage Map.
Full Press Release: https://t.co/DnR5W1PRce pic.twitter.com/B63URy61RJ — Embark (@embarktrucks) February 28, 2022
Embark is preparing for commercial deployment of its technology in 2024, according to the San Francisco-based company.
In September 2021, Embark announced a plan to launch up to 100 transfer points across the United States, working with Ryder to provide on-site operations, maintenance and fleet management in support of seamless coast-to-coast autonomous truck operations.
Founded in 2016, Embark noted it partners with some of the largest shippers and carriers in the nation, collectively representing over 35,000 trucks and $22 billion in annual freight spend. — Transport Topics
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