Amazon purchasing 1,000 self-driving systems for long-haul trucks

Amazon has placed an order with Plus technology, in an arrangement that can also include a potential 20% stake in the company.

Amazon has entered in partnership with Plus Technology to purchase 1000 self-driving solution and to potentially purchase 20% of total shares

Plus Technology is a rapidly growing startup focus on delivering self-driving technology within the trucking industry, focused on delivering fuel savings, greater safety and improved efficiencies. The California based company has seen significant interest as it has been growing it’s valuation through investments and partnership. Amazon’s arrangement will allow it to purchase up to 20% of the Plus’ preferred stock at a warrant price of $0.46647 per share.

The Amazon partnership comes 4 months after Plus hired Chuck Joseph from Amazon to lead Strategic Partneships.

Read more https://www.bloomberg.com/news/articles/2021-06-21/amazon-is-in-talks-to-buy-stake-in-ai-truck-driving-startup-plus

Read about the hire of Chuck Joseph https://www.businesswire.com/news/home/20210203005087/en/Plus-Appoints-Former-Amazon-Executive-Chuck-Joseph-to-Lead-Strategic-Partnerships

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