Source: MIT Technology Review
Summary
Parallel Systems, a startup developing autonomous electric rail vehicles, has raised $100 million to expand production. The company’s vehicle is designed to transport heavy freight over long distances. According to the company, the system can move thousands of pounds up to 500 miles. The funding comes as the company aims to scale its operations. The project is part of a broader push for automated freight solutions.
Our Reading
The launch follows a familiar script.
Parallel Systems is building an autonomous rail vehicle for freight.
It can carry heavy loads for 500 miles.
They just raised $100 million to make it bigger.
Another “revolutionary” transport system that’s just a better version of a train.
Author: Evan Null
