Mobileye, a subsidiary of Intel specializing in self-driving technology, is partnering with venture-backed startup Udelv to deliver 35,000 autonomous delivery vehicles by 2028.
"This partnership with Mobileye is literally a revolution in the industry," Daniel Laury, CEO and co-founder of Udelv, told Cheddar. "It's the first of its kind in the autonomous delivery world."
Udelv's autonomous vehicle, dubbed the Transporter, will employ Mobileye's vision-sensing technology to improve features such as pedestrian and cyclist detection and collision warning.
Laury said the Transporter will be outfitted to transport 80 percent of last-mile deliveries, from small items such as pharmaceuticals to bags of groceries and large auto parts.
The vehicle features "adaptive shelving" allowing an operator to add or remove shelves depending on the size of the items being delivered. The car also uses automated software to open on specific shelves within the van designated for each package.
Laury explained that last-mile deliveries make up 53 percent of the cost of logistics, with drivers on average making up 65 percent of that amount.
"By removing the driver, you're going to be generating billions in savings through the industry in general," he said.
This is where "Mobileye Drive" comes in. The self-driving system offers a full technology stack, including vast map coverage of North America, for Udelv to integrate into its Transporters.
Donlen, one of the largest commercial fleets in the U.S., has already pre-ordered 1,000 Udelve Transporters.
"Our deal with Udelv is significant for its size, scope and rapid deployment timeline, demonstrating our ability to deliver Mobileye Drive for commercial use now and in volume," said Mobileye President and CEO Amnon Shashua in a release. "COVID-19 has accelerated demand for autonomous goods delivery, and we are delighted to partner with Udelv to address this demand in the near term."
Transporters are set to start hitting streets in 2023.
An independent watchdog within the IRS reports that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases. And National Taxpayer Advocate Erin Collins says those delays are “unconscionable.” Erin M. Collins said in the report released Wednesday that overall the 2024 filing season went smoothly, though IRS delays in resolving identity theft victim assistance cases are worsening. It took nearly 19 months to resolve self-reported identity theft cases as of January, and Wednesday's report states that now it takes 22 months to resolve these cases.
Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.
Climate change doesn’t just mean more extreme weather – it also leads to billions of dollars in lost productivity, tourism, and stresses infrastructure.
It’s an annual tradition: the Fed’s banking ‘stress test.’ A year after the regional banking crisis, there are good reasons to make sure they’re prepped.
Summer is upon us, which means weddings, trips overseas, and trips to see Taylor Swift. Avoid a “Cruel Summer” with these budget-friendly tips and tricks.
While Nvidia's meteoric rise led it to briefly dethrone Microsoft as the world's biggest public company, there's a lot more going on in this market than A.I.
