Aurora, a developer of autonomous cars and trucks that started trading on Thursday, sees growing awareness among investors that its technology has potential to improve freight-hauling and deliveries and ease a U.S. truck driver shortage that contribute to supply-chain headaches.
Shares of the company, which splits operations between Silicon Valley and Pittsburgh, listed on Nasdaq after completing a merger with special purpose acquisition company Reinvent Technology Partners Y, trade with the ticker AUR. They closed at $9.60, down 3.1%. The SPAC deal secured $1.8 billion of funds, CEO Chris Urmson tells Forbes…
Aurora, which has robotic truck partnerships with PACCAR and Volvo, as well as working with Uber and Toyota on robotaxi projects, follows rival truck tech developer TuSimple which listed shares in August and is trading about a week ahead of San Francisco-based Embark which also goes public this month.