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CNH Industrial (CNHI) & Plus Unite for Driverless Pickups

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CNH Industrial (CNHI - Free Report) recently joined forces with autonomous truck technology developer, Plus, to jointly build self-driving trucks that will be deployed across Europe, China and other parts of the world. Per the memorandum of understanding signed by both the parties, IVECO’s latest generation heavy-duty pickup will be equipped with PlusDrive autonomous driving system.

The alliance will also explore deploying IVECO’s liquefied natural gas engine system to power Level 4 automated trucks. In a bid to create a more sustainable future and lower greenhouse emissions, the firms will work together to develop autonomous trucks that will be powered by natural gas.

The tie up is a win-win for both the parties. IVECO’s diverse and expansive global footprint will enable Plus to boost commercialization and magnify the impact of its driverless technology. Meanwhile, IVECO will be able to accelerate the deployment of highest levels of automated technology in heavy-duty trucks, in sync with the strategy of staying abreast with the latest technological advancements and emission-control procedures. As it is, IVECO is not a new entrant into automated driving and is already working with various companies on advanced driver-assistance systems. Plus’ cutting edge technology will level up the future mobility game of CNH Industrial — which currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Of late, partnerships between truck developers and automated technology suppliers have been on the rise. Driverless tech startup Aurora has collaborated with PACCAR (PCAR - Free Report) and Volvo to develop long-haul autonomous pickups. Volkswagen’s (VWAGY - Free Report) trucking arm TRATON also partnered with a San Diego based self-driving technology company, TuSimple, to build heavy-duty driverless trucks. Similarly, Daimler (DDAIF - Free Report) and Waymo also teamed up to manufacture robot trucks.

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