WABCO Reports Further Major Steps Toward Autonomous Driving for Commercial Vehicles; Collaborates With Peloton to Advance Innovative Truck Platooning Solution; Set to Form a Joint Venture for Active Steering
BRUSSELS, Belgium, and HANOVER, Germany, September 21, 2016 – WABCO Holdings Inc. (NYSE: WBC), a leading global supplier of technologies that improve the safety, efficiency and connectivity of commercial vehicles, today announced that it is working with Peloton Technology to advance an innovative solution for truck platooning, integrating commercial vehicle-to-vehicle communication and other automation technologies that further improve safety and fuel efficiency. Based in Mountain View, California, U.S.A., privately held Peloton is an industry-leading provider of connected and automated vehicle solutions.
By electronically linking two or more tractor-trailers to form virtual road-trains on highways, platooning increases fuel economy by more than 7%, namely up to 4.5% for the lead truck and up to 10% for following trucks due to improved aerodynamics, according to independent evaluation by the North American Council on Freight Efficiency and further validation by the U.S. Department of Energy and U.S. Department of Transportation.
WABCO will contribute to this work with its industry-leading portfolio of braking, advanced stability and emergency braking systems, including predictive cruise control. Peloton will bring its proprietary platooning technologies, which are currently under testing on U.S. highways.
WABCO’s OnGuardACTIVE™ collision mitigation system, with its superior 77GHz radar sensor, is a key enabler of the platoon’s trucks. When necessary, it provides active braking to avoid or mitigate impending rear-end collisions.
Peloton’s systems enable platooning through advanced vehicle-to-vehicle wireless communication, enabling tractor-trailers to accelerate and brake together and safely operate at closer distances to gain aerodynamic efficiencies. Peloton’s Network Operations Center supervises the platooning trucks, allowing platooning only where, when and how it is safe to do so.
Peloton’s system also processes real-time data gathered from sensors linked to other vehicle active safety and automation systems, including WABCO’s OnGuard™ emergency braking system and from WABCO’s rich source of instant digital information about the vehicle’s systems and their performance.
“WABCO shares our mission of increasing safety and efficiency for fleets and other transport customers. Today’s announcement builds on our past work together, and we continue to be excited about the synergy with WABCO, a global technology leader in advanced driver assistance and active safety systems,” said Josh Switkes, Peloton Chief Executive Officer and Founder. “Working with WABCO we can make trucks and drivers safer on highways whether in platoon or operating individually.”
“We are excited to expand WABCO’s strategy to offer differentiated solutions and services that empower tomorrow’s fleets, and working with industry-leading Peloton Technology demonstrates how WABCO is mobilizing vehicle intelligence to support driving automation,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer.
In addition, WABCO reports that it has signed a Memorandum of Understanding (MoU) with a global tier-one automotive industry supplier headquartered in Asia to bring active steering and other technologies to the commercial industry through a new joint venture (JV). The MoU sets a framework to establish a JV agreement for a new business that will develop, manufacture and sell electronically controlled active steering systems for the global truck and bus market.
The JV will leverage WABCO’s industry-leading braking, vehicle control and advanced driver assistance systems expertise with its partner’s world-class steering system technology and capabilities. This integration will result in significant innovation for advanced safety-enabling solutions that support automated driving through intelligent control of both the longitudinal and lateral movements of vehicles. Both partners are leaders in electronic and electro-mechanic systems.
Separately, as disclosed today, WABCO has joined forces with Mobileye, a global leader in advanced driver assistance systems and autonomous driving technologies. They intend to develop solutions for commercial vehicles that will combine Mobileye’s leading vision system and mapping technology with the control and actuation technologies from WABCO’s industry-leading portfolio of electronic braking, stability and emergency braking systems in combination with capability for active steering control. The WABCO-Mobileye solution will benefit commercial vehicle manufacturers and operators through more advanced safety capability to help reduce the risk of accidents.
“As our industry converges toward autonomous driving, WABCO continues to advance on multiple fronts to help develop and deliver the essential technologies required to turn this vision into reality,” said Esculier. “Collaborating with Peloton, joining forces with Mobileye and pursuing our vision to bring active steering into WABCO’s vehicle control capabilities represent three major steps forward.”
WABCO at IAA Commercial Vehicles 2016
WABCO will showcase at IAA Commercial Vehicles 2016 industry-leading technologies and services that improve the safety, efficiency and connectivity of commercial vehicles worldwide. This includes the latest technologies in braking, advanced driver assistance, fleet management solutions and aerodynamics.
WABCO in Hall 16 at Booth B10
Hanover Exhibition Center; Hanover, Germany
Press Days: September 21 and 22
Public Days: September 22 through 29
For all information about WABCO at IAA Commercial Vehicles 2016, click on WABCO’s home page.
WABCO’s Live Demonstrations at IAA Innovation Stage 2016
WABCO will demonstrate daily its latest aerodynamics technologies for commercial vehicles as well as its fleet management security solution at the outdoor exhibition area, north of Hall 26.
WABCO (NYSE: WBC) is a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough innovations for advanced driver assistance, braking, stability control, suspension, transmission automation and aerodynamics. Partnering with the transportation industry as it maps a route toward autonomous driving, WABCO also uniquely connects trucks, trailers, drivers, cargo, and fleet operators through telematics, as well as advanced fleet management and mobile solutions. WABCO reported sales of $2.6 billion in 2015. Headquartered in Brussels, Belgium, WABCO has 12,000 employees in 39 countries. WABCO’s 2015 Annual Report is available at www.ar.wabco-auto.com. For more information, visit www.wabco-auto.com.
About Peloton Technology
Peloton Technology is a Silicon Valley-based vehicle automation company that is bringing new levels of safety, efficiency and analytics to the $700 billion US trucking industry and international markets with the support of a strong group of investors, including Volvo Group, DENSO International America, UPS, Nokia Growth Partners, Intel Capital, Magna, Lockheed Martin, Castrol InnoVentures, Lytx, Sand Hill Angels, Birchmere Ventures, and Band of Angels. Visit www.peloton-tech.com and follow us on twitter @pelotontech.
WABCO media contact
Tobias Mueller, +49 89 470 277 112, wabco@ klenkhoursch.de
Peloton Technology media contact
Stephen Boyd, Co-founder & VP External Affairs, 650 690 2035, steve@ peloton-tech.com
WABCO investors and analysts contact
Christian Fife, +1 248 270 9290, christian.fife@ wabco-auto.com
WABCO Forward-Looking Statements
This document contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 that are based on management's good faith expectations and beliefs concerning future developments. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “strategies,” “prospects,” “intends,” “projects,” “estimates,” “plans,” “may increase,” “may fluctuate,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward looking in nature and not historical facts. Actual results may differ materially from these expectations as a result of many factors. These factors include, but are not limited to, the risks and uncertainties described in the “Risk Factors” section and the “Information Concerning Forward Looking Statements” section of WABCO’s Form 10-K, as well as in the “Management's Discussion and Analysis of Financial Condition and Results of Operations - Information Concerning Forward Looking Statements” section of WABCO’s Form 10-Q Quarterly Reports. WABCO does not undertake any obligation to update such forward-looking statements. All market and industry data are based on company estimates.