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Dive Brief:
- Aurora Innovation has opened a commercial-ready terminal for its autonomous trucks in Houston, allowing the company to further develop its driverless business. announced on Wednesday.
- The facility and corresponding terminal in Palmer, Texas, near Dallas, that opened in April will allow the AV trucking technology company to debut a driverless commercial lane on Interstate 45 between the two cities in late 2024. Aurora already carries freight for FedEx, Schneider National and Uber Freight as part of a pilot program.
- The facilities operate around the clock, supporting more than 75 commercial loads per week. On-site weigh stations for pre-trip inspections mean that driverless trucks can bypass inspection areas, maximizing driving time.
Introducing Aurora’s commercial terminal to support the planned driverless truck lane between Dallas and Houston.
The new Houston terminal is designed to optimize the time autonomous trucks spend on road freight, leading to increased safety and more efficient… pic.twitter.com/Nio1UCf2kH
— Aurora (@aurora_inno) November 1, 2023
Dive Insight:
The Houston terminal is the next step in Aurora’s plan, but the company’s vision for how freight will move in the future is already on display on Texas roads every day.
In the pilot program, its autonomous trucks are logging more than 20,000 commercial miles per week, Aurora told the shareholder letter Wednesday. As of Oct. 29, its trucks had delivered 3,200 loads for pilot program participants with an on-time rate of nearly 100 percent, according to the letter.
Aurora was able to cut costs as it prepared to open the facility.
The company cut expenses that had caused its net loss to balloon $1.7 billion in 2022 from $755 million in 2021 and $214 million in 2020. Operating expenses, including stock-based compensation, totaled $212 million in the third quarter, CFO David Maday said in earnings call.
The company’s net loss was $604 million for the nine months ended Sept. 30, up from $1.4 billion a year earlier, according to a profit deposit.
The company previously said it expected losses to widen until it resumed trading.
“It’s very important for us to be wise and make sure we know how to use and have the right financial discipline,” Maday said on the earnings call. “And we’re really finding a lot of opportunities to … do things smarter without jeopardizing our progress.”