Driverless Truck Was Operated 100% Autonomously
Without a Human Driver or Teleoperator
Plus (formerly Plus.ai), a global provider of self-driving truck
technology that recently announced its proposed business
combination with Hennessy Capital Investment Corp. V (NASDAQ:
HCIC), revealed today that it has completed a driverless Level 4
truck demonstration on a highway. The driverless semi truck was
operated using Plus’s Level 4 autonomous driving technology,
without a safety driver, teleoperator, or any other forms of human
intervention. This represents a significant milestone for the
autonomous trucking industry and for Plus, which demonstrated the
company’s first driverless Level 4 heavy truck operation at the
Qingdao port in April 2018.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210805005392/en/
Plus Driverless Truck (Photo: Business
Wire)
The driverless Level 4 truck demonstration was completed on the
Wufengshan highway in China’s largest economic center of Yangtze
Delta. The demonstration was conducted with a special permit on the
newly built highway, with Plus being the first company to be
granted such a permit in China. During the demonstration, the
driverless truck drove safely and smoothly in typical highway
traffic.
To watch the driverless truck demo, check out this video:
https://youtu.be/puisSy5sSzI.
“The driverless demo highlights the ability of our Level 4
autonomous driving technology to enable driverless highway
operations in a semi truck. The demo shows the safety, maturity,
and functionality of our technology, and we are excited to continue
to work closely with our suppliers, fleet customers, and OEM
partners to further develop, test, and refine a driverless product
for commercial deployment,” said Shawn Kerrigan, COO and Co-founder
of Plus.
Plus expects to launch pilot operations of a fully driverless
truck for use in a dedicated environment in 2022.
Plus is also applying the Level 4 technology used in the
driverless demo to deploy a commercial driver-in product for semi
trucks called PlusDrive. PlusDrive can either be a standard
configuration of newly built trucks or added to existing trucks in
order to help make long-haul trucking safer, more efficient, more
comfortable, and better for the environment.
Customers of PlusDrive include some of the world’s largest
fleets. The first customer delivery of PlusDrive started in
February 2021 and mass production of the FAW J7 L3 truck powered by
PlusDrive is expected to start in the third quarter of 2021.
About Plus
Plus is a global leader in autonomous driving technology for
long-haul trucking, headquartered in Silicon Valley and founded in
2016 by serial entrepreneurs and industry veterans who have
extensive experience in high tech and artificial intelligence. Plus
is developing low-cost, high-performance full-stack Level 4
autonomous driving technology to make long-haul trucking safer,
more efficient, and more sustainable. Mass production and global
deployment of its award-winning, driver-in autonomous driving
technology, which reduces fuel consumption by an estimated at least
10% compared to a traditional truck, is planned to start in the
third quarter of 2021. Plus is also collaborating with leading
truck manufacturers, fleets, and ecosystem partners to drive the
development of decarbonization transportation solutions including
autonomous trucks powered by natural gas. For more information,
please visit www.plus.ai or follow us on LinkedIn or YouTube.
On May 10, 2021, Plus and Hennessy Capital Investment Corp. V
(NASDAQ: HCIC) (“HCIC V” or “Hennessy Capital”) entered into a
definitive business combination agreement. Upon closing of the
proposed business combination, Plus will be a publicly traded
company and its common stock is expected to trade on the NYSE under
the ticker symbol “PLAV”. The proposed business combination has
been unanimously approved by the Boards of Directors of both Plus
and HCIC V and is expected to close in the third quarter of 2021,
subject to satisfaction of the necessary regulatory approvals and
customary closing conditions, including the approval of HCIC V’s
stockholders.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995. Forward-looking statements generally relate to future events
or Plus’s future plans, strategy and performance. Such statements
include, but are not limited to, the capability of Plus’s
technology, the timing for when Plus expects to launch pilot
operations of a fully driverless truck for use in a dedicated
environment, the timing for mass production of the FAW J7 L3 truck,
and statements relating to the proposed business combination
between Plus and HCIC V including the timing for the closing of
such transaction. Such statements are subject to numerous important
factors, risks and uncertainties that may cause actual events or
results to differ materially, including the ability of Plus to
commercialize its autonomous driving system, Plus’s relationship
with FAW Jiefang, delays in the design, production and launch of
new products, risks related to the proposed business combination
between Plus and HCIC V and those more fully described under the
section entitled “Risk Factors” in Form F-4 that Plus will file
with the Securities and Exchange Commission. These forward-looking
statements are made as of the date of this press release, and Plus
assumes no obligation to update the forward-looking statements, or
to update the reasons why actual results could differ from those
projected in the forward-looking statements, except as required by
law.
Important Information for Investors and Shareholders
As permitted by the Jumpstart our Business Startups Act of 2012
(the “JOBS Act”), and in connection with the proposed business
combination, New Plus has confidentially submitted a draft
registration statement on Form F-4 (the “Registration Statement”)
with the SEC, which includes a prospectus with respect to New
Plus’s securities to be issued in connection with the business
combination and a proxy statement to be distributed to holders of
Hennessy Capital’s common stock in connection with Hennessy
Capital’s solicitation of proxies for the vote by Hennessy
Capital’s stockholders with respect to the business combination and
other matters to be described in the Registration Statement (the
“Proxy Statement”). After the Registration Statement has been
declared effective by the SEC, Hennessy Capital will file the
definitive Proxy Statement with the SEC and will mail copies to
stockholders of Hennessy Capital as of a record date to be
established for voting on the proposed business combination.
Additionally, New Plus and Hennessy Capital will file other
relevant materials with the SEC in connection with the business
combination. Security holders of Plus, New Plus, and Hennessy
Capital are urged to read the Registration Statement and Proxy
Statement and the other relevant materials when they become
available before making any voting decision with respect to the
proposed business combination because they will contain important
information about the proposed business combination and the parties
thereto. Investors and security holders of Plus, New Plus, and
Hennessy Capital may also obtain a copy of the Registration
Statement and Proxy Statement, when available, as well as other
documents filed with the SEC regarding the proposed business
combination by New Plus and Hennessy Capital, without charge, at
the SEC’s website located at www.sec.gov. Copies of these filings
may be obtained free of charge on Plus’s website or by directing a
request to Plus Inc., and/or on Hennessy Capital’s website at
http://www.hennessycapllc.com/ or by directing a request to
Nicholas A. Petruska, Executive Vice President, Chief Financial
Officer, 3415 N. Pines Way, Suite 204, Wilson, Wyoming 83014 or by
telephone at (307) 201-1903. The information contained on, or that
may be accessed through, the websites referenced in this press
release is not incorporated by reference into, and is not a part
of, this press release.
Participants in the Solicitation
Plus, Hennessy Capital and New Plus and their respective
directors and officers may be deemed participants in the
solicitation of proxies of Hennessy Capital’s stockholders in
connection with the proposed business combination. Security holders
may obtain more detailed information regarding the names,
affiliations and interests of certain of Hennessy Capital’s
executive officers and directors in the solicitation by reading
Hennessy Capital’s Registration Statement on Form S-1, declared
effective by the SEC on January 14, 2021, and the Registration
Statement, Proxy Statement and other relevant materials filed with
the SEC in connection with the proposed business combination when
they become available. Information regarding the persons who may,
under SEC rules, be deemed participants in the solicitation of
proxies to Hennessy Capital’s stockholders in connection with the
proposed business combination, including a description of their
direct and indirect interests, which may, in some cases, be
different than those of their stockholders generally, will be set
forth in the Proxy Statement when it becomes available.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210805005392/en/
Plus Lauren Kwan pr@plus.ai
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