Autonomous Trucking Firm Gatik Inks Contracts Worth $600 Million

Core Insights - Gatik AI Inc. has signed a significant deal with a major consumer-goods company, doubling its contracted revenue to $600 million over five years, which will aid in expanding its autonomous trucking business in the US and Canada [1][2]. Revenue and Business Expansion - The new partnership marks a shift from pilot programs to a sustained commercial deployment at scale, with expectations to have hundreds of revenue-generating trucks by the end of the year [2]. - Gatik has secured $400 million in take-or-pay contracts in the latter half of the previous year, including the recent agreement with a shipper [3]. Fleet and Operations - Currently, Gatik operates 10 trucks on public roads without a safety driver, generating revenue, and plans to expand its fleet to 60 trucks by year-end [4]. - The company is actively transporting freight for clients such as Loblaw Cos. Ltd., Walmart Inc., Kroger Co., and Tyson Foods Inc., operating nearly 24 hours a day across various regions [5]. Industry Context - Other autonomous vehicle companies like Aurora Innovation Inc. and Kodiak AI Inc. are also engaged in freight routes but have reported minimal revenue, highlighting the competitive landscape in the autonomous trucking sector [6].