Stack AV, an autonomous trucking startup headquartered in Pittsburgh, Pennsylvania, has officially launched its autonomous trucking business. The company wants to utilize its self-driving technology to enhance efficiency, improve safety, and address supply chain challenges within the trucking industry.
The leadership team of Stack AV consists of CEO Bryan Salesky, President Peter Rander, and CTO Brett Browning, all of whom previously held the same roles at Argo AI. Argo AI, a self-driving technology company previously backed by Ford and Volkswagen, ceased operations in October 2022 due to a lack of funding.
Over $1 Billion in Capital, Resources, and AI expertise
Stack AV has secured substantial backing from SoftBank Group Corp., receiving over $1 billion in capital, resources, and AI expertise to accelerate its growth and technological advancements.
Argo AI’s shutdown was precipitated by the withdrawal of funding from both Ford and VW, who recognized that autonomous driving technology had yet to reach profitability. Argo AI was founded in 2016 as a spin-out from Carnegie Mellon University, gaining prominence in 2017 with a $1 billion investment from Ford.
A Shift of Focus
With Stack AV, the founders have shifted their focus from self-driving cars to autonomous trucks. Their goal is to transform the trucking industry by addressing long-standing challenges, including driver shortages, inefficient vehicle uptime, safety concerns, high operational costs, and elevated emissions.
Peter Rander expressed excitement about unveiling their autonomous trucking business, emphasizing the growing need for reliable and efficient supply chains in the context of global commerce. Stack AV intends to leverage its advanced AI-powered autonomous driving systems to optimize transportation routes and energy efficiency, ultimately benefiting customers and advancing supply chain missions.
Bryan Salesky highlighted the evolving consumer consumption patterns that necessitate AI-driven, intelligent, and dependable supply chains. With SoftBank’s continued support and its proprietary technology, Stack AV is confident in its ability to change the trucking and freight industries, enhancing efficiency, safety, and supply chain capabilities.
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