J.B. Hunt Transport Services JBHT has collaborated with autonomous driving technology developer Waymo to test run autonomous freight transportation in Texas for one of the former’s prominent customers.
The test run to move freight between Houston and Fort Worth in Texas will be conducted on Waymo’s autonomous Class 8 trucking unit, Waymo Via. It will utilize Level 4 autonomous driving technology and will have a licensed driver and software technician to monitor operations. Through the test run, J.B. Hunt will be able to receive data and feedback on customer freight moved autonomously.
The company’s move to test autonomous trucks is prudent, given the persistent scarcity of drivers in the trucking industry. Craig Harper, J.B. Hunt’s chief sustainability officer and executive vice president, stated, "While we believe there will be a need for highly skilled, professional drivers for many years to come, it is important for J.B. Hunt as an industry leader to be involved early in the development of advanced autonomous technologies and driving systems to ensure that their implementation will improve efficiency while enhancing safety."
The collaboration with Waymo Via will help J.B. Hunt get an idea on how autonomous driving technology can be integrated across its fleet to enhance safety and efficiency.
Zacks Rank & Other Key Picks
J.B. Hunt carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the Zacks Transportation - Truck industry are Covenant Logistics Group CVLG, Landstar System (NASDAQ:LSTR) LSTR and USA Truck (NASDAQ:USAK) USAK, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Covenant Logistics, Landstar and USA Truck have rallied more than 79%, 48% and 100% in a year’s time, respectively.
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