Embark, Ryder Partner For Freight Transfer Points - Ryder System (NYSE:R)

Ryder System, Inc. R and Embark Trucks, Inc. announced a partnership to launch a nationwide network of up to 100 Embark transfer points. Ryder will provide yard operations, maintenance, and fleet management to support a coast-to-coast autonomous network for Embark fleet partners.
Embark plans to begin hauling loads in early 2022 in preparation for a larger commercial launch in 2024.
With this partnership, Embark plans to establish a network of transfer points, where freight is moved from driverless long-haul trucks to driver-enabled trucks for first- and last-mile delivery. Ryder plans to serve as the transfer point operator.
Initially, the partnership will focus on developing select sites in important freight markets in California, Arizona, Texas, Georgia, Tennessee, and Florida.
Price Action: R shares are trading lower by 0.42% at $81.01 on the last check Thursday.