The two companies will explore the integration and deployment of Aurora Horizon within Covenant’s operations to haul freight safely and reliably.
PITTSBURGH – May 11, 2022 – Today, Aurora Innovation Inc. (NASDAQ: AUR) and Covenant Logistics Group, Inc. (NASDAQ: CVLG), announced a collaboration to explore ways to optimize Covenant’s long-haul operations with Aurora’s autonomous trucking product.
The two companies will explore the integration and deployment of Aurora Horizon within Covenant’s operations. Part of Covenant’s diversified services is long-haul trucking, making the benefits of autonomous technology in its network especially attractive. A hybrid model that blends trucks driven by humans with trucks driven autonomously would allow Covenant to realize the best of both and potentially expanding its business with a combination of rapid, high-efficiency autonomous transport on long-haul routes and flexible human navigation at the endpoints.
The collaboration will initially focus on driving value, efficiency, and education by:
● Identifying the lanes where the Aurora Driver can make the biggest impact while improving driver quality of life.
● Optimizing fuel efficiency and maximizing the up-time of Covenant’s fleet with Aurora Horizon, built for 24/7/365 operation.
● Collaborating on how to effectively educate the transportation and logistics industry on the benefits of autonomous technology, especially on long-haul lanes.
“Covenant is excited to be collaborating with Aurora on autonomous technology to find ways to further improve efficiency within the supply chain for our drivers, customers, environment, and industry,” said Joey Hogan, President of Covenant. “We believe this technology has the potential to optimize operations and reduce fuel consumption while also helping our drivers, both in safety and quality of life. We are looking forward to working with Aurora to realize the expected potential of this autonomous technology.”
“Covenant has built an extraordinary business in expedited shipping that will benefit from a product that safely, reliably, and tirelessly hauls goods at all hours of the day,” said Sterling Anderson, Aurora’s Co-Founder and Chief Product Officer. “We're designing Aurora Horizon to excel in applications like these and we’re happy to partner with a leading expedited carrier in Covenant to fine-tune and integrate it with their business.”
This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. Such statements are made based on the current beliefs and expectations of the respective companies and are subject to significant risks and uncertainties. Actual results or events may differ from those anticipated by forward-looking statements. Please refer to various disclosures by each company in their press releases, stockholder reports, and filings with the Securities and Exchange Commission for information concerning risks, uncertainties, and other factors that may affect each company’s future results.
About Covenant Logistics Group, Inc.
Covenant Logistics Group, Inc., through its subsidiaries, offers a portfolio of transportation and logistics services to customers throughout the United States. Primary services include asset-based expedited and dedicated truckload capacity, as well as asset-light warehousing, transportation management, and freight brokerage capability. In addition, Transport Enterprise Leasing is an affiliated company providing revenue equipment sales and leasing services to the trucking industry. Covenant's Class A common stock is traded on the NASDAQ Global Select market under the symbol, “CVLG.”
About Aurora
Aurora (Nasdaq: AUR) is delivering the benefits of self-driving technology safely, quickly, and broadly to make transportation safer, increasingly accessible, and more reliable and efficient than ever before. The Aurora Driver is a self-driving system designed to operate multiple vehicle types, from freight-hauling semi-trucks to ride-hailing passenger vehicles, and underpins Aurora Horizon and Aurora Connect, its driver-as-a-service products for trucking and ride-hailing. Aurora is partnered with industry leaders across the transportation ecosystem, including Toyota, FedEx, Volvo Trucks, PACCAR, Uber, Uber Freight, U.S. Xpress, and Werner. To learn more, visit www.aurora.tech.
