Aurora Innovation (AUR +4.09%) stock took off today after the driverless vehicle technology company announced a new partnership with a Berkshire Hathaway subsidiary.
Aurora and Berkshire-owned McClane Company announced an arrangement to commence autonomous deliveries in Texas, utilizing an Aurora self-driving system initially being implemented in long-haul trucking. It expands on a prior pilot program, and it sent Aurora shares higher by 11% today, as of 12:45 p.m. ET.
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Autonomous truck routes
Texas-based McClane serves convenience stores, large retailers, and restaurant chains and is an industry-leading partner to the biggest retail and restaurant businesses. The new agreement stems from a successful pilot program that transported 1,400 loads for McLane, helping serve restaurant clients throughout the state with a 100% on-time delivery rate.
Aurora intends to extend its operations to new routes connecting McLane distribution centers across the U.S. Sun Belt by the end of the year, with plans to accommodate more McLane business in the future.
NASDAQ: AUR
Key Data Points
Aurora has also just expanded an existing self-driving program with Volvo Group's Volvo Autonomous Solutions (V.A.S.), featuring a new 200-mile route connecting Dallas and Oklahoma City. Investors will likely hear more about both partnerships when Aurora reports first-quarter earnings after the bell today.
