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Knight-Swift (KNX)-Embark Team Up for Autonomous Truck Testing

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Knight-Swift Transportation Holdings (KNX - Free Report) is collaborating with autonomous vehicle company, Embark Trucks, Inc., the subsidiary of Embark Technology, Inc. (EMBK - Free Report) , to integrate Embark-equipped trucks into its own fleet. This truck transfer program marks the first time KNX will own, maintain and deploy an autonomous truck with its driver behind the wheel.

Embark has been operating a testing model by owning, maintaining and dispatching autonomous trucks, while placing its driver behind the wheel for hauling loads. This configuration helped generate crucial insights into real-world technology performance and the best ways to integrate Embark-equipped trucks into existing supply chain operations.

Ahead of the launch of this industry-first testing program, Embark is preparing the truck technology and carrier process flows along with Knight-Swift. EMBK intends to equip a few of Knight-Swift trucks from its scheduled 2022 OEM deliveries with the Embark Universal Interface. Among other things, the two companies are developing workflows to cater to truck maintenance, dispatching and IT-integration points for a smooth integration of Embark technology. EMBK expects to deliver the first set of Embark-equipped trucks to KNX for daily use by the end of 2022.

The truck transfer program will allow Knight-Swift to collect drivers’ feedbacks on the technology and find out ways to improve driver jobs through the system. It will also enable KNX to maintain, inspect, dispatch, and remotely monitor Embark-equipped trucks by developing procedures and tools.

Amid driver scarcity issues in the trucking industry, the program will help Knight-Swift to efficiently utilize its limited driver resource to cater to growing freight demand. With this program, KNX will be able to determine under what situations drivers need to move hauls and under what circumstances drivers need to team up with the Embark Driver to transport loads.

Both Knight-Swift and Embark Technology carry a Zacks Rank #3 (Hold).

A Key Pick

A better-ranked stock in the Transportation - Truck industry is ArcBest Corporation (ARCB - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

ArcBest has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 31.4%.

Shares of ArcBest have rallied more than 31% in the past six months.

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