Scaling Autonomous Middle Mile Logistics Through Strategic Investment
Minato-ku, Tokyo and Mountain View, California, 10 June 2024 – ITOCHU Corporation, one of Japan’s largest general trading and investment companies, and Gatik, the market leader in autonomous middle mile logistics, today announced a strategic partnership and investment from ITOCHU in Gatik to accelerate the deployment and scaling of Gatik’s autonomous delivery network across North America. This collaboration aims to further transform the B2B middle-mile logistics sector by leveraging Gatik’s proven autonomous vehicle technology and ITOCHU’s Corporation’s extensive automotive resources and expertise.
Transforming Autonomous Middle Mile Logistics in North America
This collaboration is the latest in a series of strategic partnerships. Gatik is leveraging these partnerships to revolutionize the North American logistics landscape through the deployment of Freight-Only at scale. By working directly with industry leaders, Gatik is addressing the logistics sector’s mounting pressures. These include surging e-commerce demands, critical driver shortages, and rising operational costs. Together, these partnerships are reshaping the industry. They help meet the increasing expectations of end-consumers while alleviating the strain on traditional logistics infrastructure. Gatik’s partnership with ITOCHU underscores the industry’s growing confidence in Gatik’s technological leadership and its commitment to addressing the increasing demands of the logistics sector.
Strengthening Autonomous Middle Mile Logistics Through Global Partnerships
“We’re thrilled to strengthen our relationship with ITOCHU, further solidifying Gatik’s position as the leading provider of autonomous transportation as a service for the middle mile,” said Philip Reinckens, Gatik’s Senior Vice President of Commercialization and Operations. “This partnership is another example of the growing momentum and investment behind our technology and operations. It is also a testament to the increasing demand for safe, reliable autonomous logistics. Together with our growing list of partners, we’re looking forward to continuing to transform the sector. This will benefit our Fortune 500 customers and their end consumers.”
Expanding the Global Reach of Autonomous Middle Mile Logistics
“Gatik’s cutting-edge autonomous technology aligns perfectly with our goal to expand our downstream presence in the US automotive market and revolutionize logistics services,” said Atsushi Kuromi, General Manager, Itochu Corporation. “With their demonstrated safety record and methodical approach to scaling, we see immense potential in Gatik’s ability to further optimize middle mile delivery. This will help address driver shortages and create a more sustainable and efficient supply chain for the benefit of consumers.This strategic partnership strengthens our existing operations. It also opens doors for innovative solutions across our global network.”
About Gatik
Gatik is in the business of autonomous freight. The company operates driverless trucks daily for Fortune 50 retailers, grocers and CPG companies, moving freight between distribution centers and stores across Texas, Arizona, Arkansas, and Canada. Gatik has a strong safety record across its operations and is powered by the Gatik Driver™, a scalable, interpretable AI system purpose-built to enable safe, consistent, and high-frequency freight movement. For more information, visit gatik.ai.
Forward-Looking Statements
This news release contains “forward-looking statements” that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or Gatik’s future financial or operating performance. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies, revenue targets and trends we expect to affect our business. These statements often include words such as “contracted,” “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target”, “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled”. Forward-looking statements may also be made, verbally or in writing, by members of our Board or management team in connection with this news release.
These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve and are subject to known and unknown risks, uncertainties and other important factors that may cause Gatik’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements, including Gatik’s ability to execute on its growth plans, any failure to comply with laws, rules, regulations or business practices that Gatik may become subject to as a result of any expansion of its business resulting from the financing, including Gatik’s ability to successfully execute on its growth strategies and operating plans, achieve its targeted annualized contracted revenue, continue to develop its existing customer base, design and deploy an expanded fleet of trucks on behalf of customers, and diversify and expand into the market for autonomous logistics solutions. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement included in this press release speaks only as of the date of such statement. Except as required by law, Gatik disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
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Media Contact:
Aarthi Sivaraman
aarthi.sivaraman@gatik.ai
