Ryder Invests in Gatik and Partners to Establish North American Autonomous Delivery Network for B2B Short-Haul Logistics

MIAMI & MOUNTAIN VIEW, CA – (COMMERCIAL THREAD) –Ryder System, Inc. (NYSE: R), a leader in Supply Chain, dedicated transport, and fleet management solutions, and Gatik, a leader in road transportation automation for short- and medium-haul logistics, announces a multi-year partnership designed to establish an autonomous logistics network for Gatik customers in the United States and Canada.

Gatik’s latest round of funding, totaling $ 85 million, includes investment from Ryder’s venture capital fund RyderVentures, which aims to invest and partner with start-ups that are growing new technologies and business models that enable advancements and automation in logistics and transportation. The funding represents RyderVentures’ first investment in a self-sustaining trucking business.

As part of the larger partnership, Gatik will lease Ryder a fleet of medium-duty, multi-temperature box trucks designed to transport goods to retail outlets from micro-distribution centers or obscure stores, distribution centers that cater exclusively to electronic commerce. Gatik will integrate its commercial grade autonomous driving technology into the leased fleet, enabling Gatik to deliver its Autonomous Delivery as a Service (ADaaS) model to new and existing customers. In addition to providing the leased vehicles, Ryder will provide servicing and maintenance of the trucks, including the calibration of autonomous vehicle sensors and necessary pre- and post-trip inspections.

Going forward, Ryder and Gatik will explore opportunities for Ryder to also manage the logistics operations of the Autonomous Fleet, allowing Gatik to focus on its unique, end-to-end ADaaS business model and manage long-standing relationships with its customers.

“The combination of maintaining direct customer relationships while being light on assets has never been achieved before in the self-driving trucking industry,” said Gautam Narang, CEO and co-founder of Gatik. “This partnership allows us to benefit from Ryder’s world-class expertise in the servicing and maintenance of commercial vehicles, and to leverage Ryder’s North American infrastructure to rapidly expand our fleet to multiple markets. Ryder has always demonstrated its commitment to innovation and meeting the needs of its customers – fundamental principles that have left a deep mark on us.

The goal of the partnership is to expand rapidly into the United States and Canada, initially focusing on the Dallas-Fort Worth area.

“One of our areas of focus, not only for RyderVentures but for Ryder as a company, is self-driving trucking technology. He is on the right track to solving a multitude of problems in the industry. Think about ever-increasing consumer demands combined with capacity constraints, driver shortages, and regulatory and safety pressures, ”said Karen Jones, Director of Marketing and Head of New Product Development for Ryder. “Gatik’s commitment to safety, focus on efficiency and affordability, and its unique approach to structured range make them a leader in self-driving mid-mile delivery and a great partner for Ryder.

About Ryder

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. He offers Supply Chain, dedicated transport, and fleet management solutions, including full service rental, rent, and maintenance, sale of used vehicles, professional drivers, transport services, freight brokerage, storage and distribution, e-commerce execution, and last mile delivery services, to some of the world’s most recognized brands. Ryder provides services to the United States, Mexico, Canada and the United Kingdom. In addition, Ryder manages nearly 235,000 commercial vehicles and operates more than 300 warehouses covering approximately 64 million square feet. Ryder is regularly recognized for its leading practices in third party logistics, technological innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, safety and security programs. world-class military veteran recruiting initiatives and hiring a diverse workforce. www.ryder.com

About Gatik

Gatik, the leader in autonomous logistics in the Middle Mile, delivers goods safely and efficiently using its fleet of light and medium trucks. The company focuses on short-haul B2B logistics for Fortune 500 retailers such as Walmart and Loblaw. Gatik’s Class 3-6 self-contained box trucks are commercially deployed in several markets including Texas, Arkansas, Louisiana and Ontario. Founded in 2017 by veterans of the autonomous tech industry, the company has offices in Mountain View, California and Toronto. Gatik was recognized on the Forbes AI 50 2021 list and as a technology pioneer of the World Economic Forum.

Note Regarding Forward-Looking Statements: Certain statements and information included in this press release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements, such as our expectations regarding the establishment of a nationwide autonomous delivery network for certain vehicles, are based on our current plans and outlook and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated taking into account the numerous risks and uncertainties that could cause actual results and events to differ materially from those of forward-looking statements, including the risks set forth in our periodic filings with securities and Foreign Exchange Commission. New risks appear from time to time. It is not possible for management to predict all of these risk factors or to assess the impact of these risks on our business. Accordingly, we assume no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

Ryder-United States


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