Pittsburgh-based self-driving tech company Aurora ’s autonomous trucks are seeing increased demand in the US ,CNBC reports (watch, runtime: 15:36).The self-driving trucks are offered on a subscription basis, with plans to go commercial in 2024, its director of terminal operations Lance Underwood said. The trucks currently operate with safety drivers at the wheel in case of emergencies, though the company plans to eliminate those by the end of next year, according to CNBC.

The benefits: The trucks help expedite delivery time for goods delivery, with the route from California to Dallas taking just one day, instead of three, due to the lack of a need for rest stops, Aurora’s CEO Chris Urmson said in the video. The trucks will also improve fuel efficiency by almost 20-25%, Urmson said, while cost efficiency will also see a boost, with trucks running 11k miles a day as opposed to 450 miles a day. The self-driving industry does, however, face several challenges, including high costs, with Aurora seeing a USD 1.7 bn loss in 2022.

Background: Aurora first started transporting goods in 2023, working with companies such as Fedex and Schneider. In 2020, the company acquired Uber’s self-driving unit, valuing Aurora at USD 10 bn. Uber received a 26% shareholder stake in Aurora, in return for its USD 400 mn investment.

Russia is facing difficulties moving its grain as war spills over to Black Sea trade routes: Russia’s exit last month from a UN-brokered Black Sea grain initiative and its subsequent attacks against Ukrainian grain export infrastructure has severely impacted its own ability to ship grain, Reuters reports. A lack of ships, Western commodity houses’ unwillingness to do business with Moscow, increased risk of attacks, and indirect sanctions are all contributing to spiraling freight and ins. costs associated with the transport of Russian grain, the newswire explained.

Western trading houses are pulling out of Russia: Major commodity houses such as Louis Dreyfus and Viterra are pulling out of Russia, leaving the country to manage the logistics of its grain exports alone, Reuters wrote. This makes Russia increasingly reliant on shadow fleets that international traders prefer to avoid, an industry executive told the newswire. Russia’s plans to build its own grain exporting fleet imply a three-year wait period as shipyards meet the orders

Tags: