The 5 competitors in autonomous driving 

Embark develops technologically advanced autonomous driving software for the freight trucking industry.

In its own words, this company offers a carefully constructed business model that is designed to provide the industry with a path to autonomous driving adoption. 

What is autonomous driving and how does it work? On the former, it is the ability of a vehicle to operate independently, without the direct intervention of a human driver. On the latter, these vehicles are equipped with advanced sensor systems, cameras, radar, lidar, and data processing software to interpret their environment and make driving decisions.

Specifically, Embark has developed a software-as-a-service (SaaS) platform designed to interoperate with a wide range of truck OEM platforms, forgoing complicated and logistically challenging truck building or hardware manufacturing operations in favor of focusing on superior driving technology. 

Embark’s business plan contemplates that should Embark achieve scale, truck fleets will be able to access Embark’s technology through a subscription software license selected as an option at the time they specify new semi-trailer builds.

Autonomous driving 

Embark is the longest-running autonomous trucking program in the United States, which provides a competitive advantage. 

There are several competitors that have an AV transportation solution, including TuSimple, Aurora Innovation, Kodiak Robotics and Waymo. 

While TuSimple and Kodiak Robotics focus solely on the trucking market, Aurora Innovation and Waymo are also developing a robotaxi solution. 

Embark differentiates itself by having developed a technology stack that does not rely too heavily on HD Maps and instead focuses on its VMF technology. 

In addition, Embark has developed EUI, which is a modular hardware approach that allows the Embark controller to run on multiple OEM platforms. 

Finally, Embark has a few assets approach and partners with a variety of components within the logistics and trucking ecosystem.

Competition

On March 1, 2023, the Board of Directors of this company approved a process to explore, review and evaluate a range of possible strategic alternatives, including, among others, the exploration of alternative uses of its assets to commercialize its technology, additional sources of financing, as well as a potential dissolution or liquidation of the company and liquidation of its assets. 

Then, on March 3, 2023, the company announced a restructuring plan following a comprehensive review of its organization and programs and in response to current market headwinds. 

In connection with this restructuring plan, Embark will reduce its workforce by approximately 230 employees, representing 70% of its headcount.