Autonomous trucking developer Plus goes public via SPAC - The Robot Report

Plus Automation Inc., a developer of autonomous driving software for commercial trucks, is going public through a merger with Churchill Capital Corp IX, a special purpose acquisition company (SPAC). The combined company will operate as PlusAI, with a mission to address the trucking industry’s driver shortage by delivering advanced autonomous vehicle technology. Founded in 2016 and based in Santa Clara, California, Plus has deployed its technology across the U.S., Europe, and Asia, accumulating over 5 million miles of autonomous driving. Its core product, SuperDrive, enables SAE Level 4 autonomous driving with a three-layer redundancy system designed specifically for heavy commercial trucks. Plus achieved a significant driver-out safety validation milestone in April 2025 and is conducting public road testing in Texas and Sweden, targeting a commercial launch of factory-built autonomous trucks in 2027. Plus emphasizes an OEM-led commercialization strategy, partnering with major vehicle manufacturers such as TRATON GROUP, Hyundai, and IVECO to integrate its virtual driver software directly into factory-built trucks. This approach leverages trusted manufacturing and service networks to scale deployment and provide fleet operators with a clear path to autonomy. Strategic collaborations with companies like DSV, Bosch, and NVIDIA support this effort. Notably, Plus and IVECO launched an automated trucking pilot in Germany in partnership with logistics provider DSV and retailer dm-drogerie markt, demonstrating real-world applications of their technology. The SPAC transaction values Plus at a pre-money equity valuation of $1.2 billion and is expected to raise $300 million in gross proceeds, which will fund the company through its planned commercial launch in 2027. The deal has been unanimously approved by both companies’ boards and is anticipated to close in Q4 2025, pending shareholder approval and customary closing conditions. This public listing marks a significant step for Plus as it scales its autonomous trucking technology to address industry challenges and expand globally.