Truck Transportation Technology: Embark Technology, Inc. (EMBK)

Embark Technology, Inc. (NASDAQ: EMBK) was founded in 2015, formerly known as Embark Trucks, Inc., headquartered in San Francisco, California, the United States, and is developing autonomous truck technology specialized in freight and logistics services. On November 9, 2021, Special purpose acquisition company Northern Genesis Acquisition Corp. II (NYSE: NGAB) announced that its shareholders had voted to approve its merger with Embark Trucks, Inc., and the merger was completed.

The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/embk.html

Embark Trucks, Inc. (EMBK)

Embark is the longest running self driving truck project in the United States. From 2016, when automatic driving automobile When the industry focused on passenger cars, Embark's team ignored the hype and believed in their vision, namely truckage It is the best use case of automatic driving technology. Founded by the world champion robot expert, Embark knows that for the truck transportation industry, which is worth nearly 700 billion dollars, a clear mission, pragmatic focus and revolutionary value proposition are the keys to building a successful company. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/embk.html

Embark Trucks, Inc. is an autonomous vehicle headquartered in the United States Software It is a service provider, focusing on improving the safety, efficiency and sustainability of the truck transportation market, which is nearly 700 billion dollars a year. Embark's customers are operators who deploy Embark's Driver software to enable autonomous trucks in their fleet. Embark also works with shippers and carriers as part of their partner development program to provide voice to end customers and advise on the integration and expansion of automated trucks in their supply chain and fulfillment networks. Embark's platform independent approach is based on Embark's universal interface, which is a set of standardized autopilot components and flexible interfaces, enabling major truck OEMs to easily integrate Embark's autopilot technology into their multiple vehicle platforms. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/embk.html

Embark, founded in San Francisco by CEO Alex Rodrigues and CTO Brandon Moak, is a leading developer of self driving truck software. In the past five years, Embark has operated the longest running road test project for autonomous trucks in the United States to improve the company's complex automated driving software - designed for driving Class 8 trucks in long-distance freight transportation. Embark works with leading operators who pay a per mile subscription fee for Embark's Driver software to deploy and enable autonomous trucks in their fleet. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/embk.html

Through its Partner Development Program, Embark is currently working with Anheuser-Busch InBev 、 HP Inc. 、 Werner Enterprises Shippers and carriers, including Mesilla Valley Transportation and Bison Transport, cooperate to help their fleets get ready to integrate autonomous driving technology and Embark's technology. Embark has an industry leading safety record, has driven more than 1 million miles in the real world, and has no DOT reportable accidents. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/embk.html

Embark Trucks, Inc. (EMBK) Listing:

On June 23, 2021, Embark Trucks, Inc., a leading developer of independent software technology in the truck transportation industry, and Northern Genesis Acquisition Corp. II (NYSE: NGAB), a special purpose acquisition company, jointly announced today that they have reached a final business merger agreement, which will make Embark a listed company. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/embk.html

The transaction reflected the implied value of reference equity of US $5.16 billion and the enterprise value of US $4.55 billion. After the completion of the transaction, the combined company is expected to obtain a total cash income of about $614 million, including about $414 million in cash held in the Northern Genesis 2 trust account (assuming that the NGAB shareholders have not redeemed), and a fully committed $10 per share PIPE investment of $200 million. Investors include the Canadian Pension Plan Investment Committee（ Canada Pension Plan Investment Board ， CPP Investments )、 Knight-Swift Transportation、 Mubadala Capital、 Sequoia Capital （ Sequoia Capital ）And Tiger Global Management Including top anchor investors, Northern Genesis management team and relevant institutional investors. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/embk.html

The board of directors of Embark and Northern Genesis 2 unanimously approved the proposed business merger, which is expected to be completed in the second half of 2021, but must be approved by the shareholders of Northern Genesis 2. Embark also announced that Zhao Xiaolan, the former US Secretary of Transportation, has been appointed as a member of the Board of Directors. Minister Zhao's extensive leadership experience in the public and private sectors will further strengthen Embark's position in the AV industry. Before becoming the Secretary of Transportation, Secretary Zhao established an outstanding career both inside and outside the government, serving as the Secretary of Labor of the United States and the President and CEO of the United Way of America for eight years. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/embk.html

On November 9, 2021, Northern Genesis Acquisition Corp. II (NGAB) was approved by shareholders to merge with Embark Trucks Inc., a developer of automatic truck technology, at a special meeting held on the same day. The merged company was renamed "Embark Technology, Inc.". Its shares will start trading on the NASDAQ capital market on November 11, with the stock codes of "EMBK" and "EMBKW". The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/embk.html

Embark Trucks, Inc. (EMBK) Financing/History Encyclopedia

• In May 2016, Embark Trucks, Inc. obtained Maven Ventures' leading investment in seed round financing, Y Combinator 、 FundersClub 、 Soma Capital The investment of 2.1 million dollars, etc.
• In July 2017, Embark Trucks, Inc. obtained Round A financing DCVC Leading investment, Maven Ventures Y Combinator Continuity Fund、 AME Cloud Ventures and SV Angel 15 million dollars of investment.
• In July 2018, Embark Trucks, Inc. obtained round B financing Sequoia Capital Leading investment, DCVC 、 Y Combinator 、 AME Cloud Ventures 、 SV Angel 30 million dollars of investment.
• In September 2019, Embark Trucks, Inc. obtained the C-round financing Tiger Global Management Leading investment, Sequoia Capital 、Y Combinator、 DCVC , SV Angel, etc.
• In August 2022, Embark Technology (NASDAQ stock code: EMBK) completed a 20-to-1 reverse stock split (20 shares for 1 share).
• On May 26, 2023, Embark Technology (NASDAQ stock code: EMBK) announced that it had agreed to cooperate with the software company Applied Intuition Merge. The acquisition valued Embark at $71 million - far less than its estimated value of about $5 billion when listed on NASDAQ.

Embark Trucks, Inc. (EMBK) US equity investment