From Yahoo Finance: 2025-06-14 14:00:00

Plus Automation announced a merger with Churchill Capital Corp IX valued at $1.2 billion, bringing $300 million for its autonomous trucking push by 2027. The merger allows scaling of the factory-integrated model and formation of PlusAI, prioritizing OEM partnerships for deployment.

Led by Stanford-trained PhD engineers and tech entrepreneurs, Plus Automation’s CEO David Liu has a successful track record across startups. SuperDrive, their AI-based virtual driver for heavy trucks, has logged over 5 million miles, hitting a safety milestone for commercial deployment.

With a focus on factory integration, Plus Automation collaborates with Hyundai, TRATON Group, and Iveco for SuperDrive-enabled truck production. Churchill Capital Corp IX will inject up to $300 million, fully funding Plus Automation through 2027 without additional equity raises.

The European and U.S. trucking markets, valued at nearly $2 trillion, face driver shortages annually. Plus Automation plans to monetize through a “driver-as-a-service” model. Interest in autonomous heavy vehicles is rising, with California proposing testing on public roads.

The merger maintains a clean balance sheet, locking in shareholders for the long haul. Plus Automation aims to close the deal in the fourth quarter pending shareholder approval. Physical AI solutions are on the rise due to lighter regulations and logistical efficiency demands.



Read more at Yahoo Finance: Self-Driving Truck Startup Plus Goes Public In $1.2B SPAC Merger, Backed By Wall Street Titan Michael Klein And Hyundai