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We also autonomously haul (under the supervision of vehicle operators) truck freight on behalf of our pilot customers in preparation for driverless commercialization.
−Removed: Our first-principles approach, which we define as “Self-Driving 2.0,” underpins our technology development strategy for the Aurora Driver.
+Added: Our first-principles approach underpins our technology development strategy for the Aurora Driver.
We made foundational investments early on, based on our prior experience in the self-driving industry, that allow us to accelerate development and position our platform for long-term scalability.
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• Uber, a leading ride hailing company globally.
−Removed: With these strategic partnerships, each party is making significant investments towards integrating the Aurora Driver into their vehicles and logistics and mobility networks.
−Removed: We believe that partnering with other industry leaders enables us to scale more efficiently, as it allows us to focus on what we do best – developing the Aurora Driver—while our partners handle activities such as vehicle manufacturing, fleet ownership, and operation.
+Added: • Continental, a leading global technology manufacturer and Tier 1 automotive supplier.
+Added: With these strategic partnerships, each party is making significant investments towards integrating the Aurora Driver into vehicles, logistics and mobility networks, and business models.
+Added: We believe that partnering with other industry leaders enables us to scale more efficiently, as it allows us to focus on what we do best – developing the Aurora Driver—while our partners handle activities such as vehicle and hardware manufacturing, fleet ownership, and operation.
We are proud that these industry leaders have selected Aurora as their self-driving partner.
−Removed: During 2022, we operated commercial trucking pilots with FedEx, Werner, Schneider, and Uber Freight in which we regularly and autonomously haul loads under the supervision of vehicle operators, and also explore integrating access to Uber Freight’s digital freight network within our autonomous trucking subscription service.
−Removed: We also announced a strategic collaboration with Ryder Systems to pilot on-site fleet maintenance to support current autonomous freight pilot operations and prepare for commercial operation at scale.
+Added: During 2023, we operated commercial trucking pilots with FedEx, Werner, Schneider, Hirschbach and Uber Freight through which we regularly and autonomously hauled loads under the supervision of vehicle operators, and also explored integrating access to Uber Freight’s digital freight network within our autonomous trucking subscription service.
+Added: Further, we continued our strategic collaboration with Ryder Systems, piloting on-site fleet maintenance to support current autonomous freight pilot operations and prepare for commercial operation at scale.
We expect to ultimately commercialize the Aurora Driver in a Driver as a Service (“DaaS”) business model, in which we will supply self-driving technology and earn revenue on a fee per mile basis.
We do not intend to own nor operate large vehicle fleets ourselves.
−Removed: We will partner with automotive companies, fleet operators, and other third parties to commercialize and support Aurora-powered vehicles.
+Added: We will partner with automotive companies, fleet operators, and other third parties to commercialize and support Aurora Driver-powered vehicles.
We expect that these strategic partners will support activities such as vehicle manufacturing, financing and leasing, service and maintenance, parts replacement, facility ownership and operation, and other commercial and operational services as needed.
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We plan to launch Aurora Horizon, our driverless trucking subscription service, as our first commercial product.
−Removed: We have prioritized this segment as we believe it is an optimal first product for both commercial and technical reasons:
+Added: We have prioritized this market as we believe it is an optimal first product for both commercial and technical reasons:
• Commercial .
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Aurora’s investment in long-range perception, including Aurora’s proprietary FirstLight Lidar, enables us to solve this, while benefiting from the other elements that make deploying trucks on highways an advantageous initial market entry point.
−Removed: During 2022, we operated commercial trucking pilots with FedEx, Werner, Schneider, and Uber Freight in which we regularly and autonomously hauled loads under the supervision of vehicle operators, and also explored integrating access to Uber Freight’s digital freight network within our autonomous trucking subscription service.
−Removed: We also announced a strategic collaboration with Ryder Systems to pilot on-site fleet maintenance to support current autonomous freight pilot operations and prepare for commercial operation at scale.
+Added: During 2023, we operated commercial trucking pilots with FedEx, Werner, Schneider, Hirschbach and Uber Freight through which we regularly and autonomously hauled loads under the supervision of vehicle operators, and also explored integrating access to Uber Freight’s digital freight network within our autonomous trucking subscription service.
+Added: We also continued our strategic collaboration with Ryder Systems, piloting on-site fleet maintenance to support current autonomous freight pilot operations and prepare for commercial operation at scale.
We plan to initially launch Aurora Horizon in Texas, which has the largest freight market in the US, a favorable business and regulatory environment, and moderate weather.
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Our third core market is local goods delivery, which spans several sub-segments, including last-mile parcel and post, prepared food, grocery, and business-to-business (“B2B”) delivery.
−Removed: The COVID-19 pandemic has highlighted the importance of local goods delivery, as well as the supply chain disruptions that can be experienced when consumer behavior changes abruptly.
+Added: The COVID-19 pandemic highlighted the importance of local goods delivery, as well as the supply chain disruptions that can be experienced when consumer behavior changes abruptly.
We expect consumer demand for online shopping and on-demand ordering will largely remain in place following the COVID-19 pandemic and that retailers, restaurants, and other local businesses will seek to address these preferences through expanded delivery channels.
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Chris led the Google self-driving car team and was technology director for Carnegie Mellon when it won the 2007 DARPA Urban Challenge.
−Removed: Sterling developed MIT’s Intelligent CoPilot, then launched Tesla’s Model X and Autopilot;
−Removed: Drew worked for two decades at the intersection of machine learning and robotics across industry and academia at Carnegie Mellon.
+Added: Sterling developed MIT’s Intelligent CoPilot, then launched Tesla’s Model X and Autopilot, and Drew worked for two decades at the intersection of machine learning and robotics across industry and academia at Carnegie Mellon.
As of December 31, 2023, Aurora has assembled an approximately 1,800-person team, of whom approximately 1,600 focus on engineering and product.
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Deep strategic partnerships which support commercialization at scale
−Removed: We have developed strategic partnerships with industry leaders like PACCAR, Volvo, Toyota and Uber and will work together to develop and scale Aurora Driver-powered trucks and self-driving passenger vehicles.
+Added: We have developed strategic partnerships with industry leaders like PACCAR, Volvo, Toyota, Uber and Continental and will work together to develop and scale Aurora Driver-powered trucks and self-driving passenger vehicles.
Our partners are industry leaders in their respective fields and we are able to leverage each of our respective strengths as we commercialize.
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The Aurora Driver will be delivered as a service via Aurora Horizon, our driverless trucking subscription service, and Aurora Connect, our driverless ride hailing subscription service.
−Removed: We intend to partner with our ecosystem of OEMs, fleet operators, and mobility and logistics services, as well as other third parties, to commercialize and support Aurora-powered vehicles.
+Added: We intend to partner with our ecosystem of OEMs, Tier 1 automotive supplier, fleet operators, and mobility and logistics services, as well as other third parties, to commercialize and support Aurora Driver-powered vehicles.
With our business model, fleet owners will purchase Aurora Driver-powered vehicles from our OEM partners, subscribe to the Aurora Driver, and utilize Aurora-certified fleet service partners to operate autonomous mobility and logistics services.
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Updates to the Aurora Driver, including map and software updates;
−Removed: Access to Aurora Beacon, which will interface with their systems and enable efficient dispatch, deployment, and fleet monitoring;
−Removed: Aurora Beacon support, where trained specialists monitor Aurora Driver-powered vehicles and provide high level input when needed;
+Added: Access to Aurora Services, a suite of tools and infrastructure to seamlessly integrate the Aurora Driver into their business;
Access to Aurora-certified third party services, including maintenance of the Aurora Driver, roadside assistance for the Aurora Driver, and insurance.
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We have made purposeful, foundational technological investments that we believe will enable us to move towards meaningful commercialization more safely, quickly, and broadly.
−Removed: Examples of this ‘self-driving 2.0’ approach, across both hardware & software, include:
+Added: Examples of this approach, across both hardware & software, include:
Proprietary lidar technology to unlock highway speeds;
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Aurora’s long-range, multi-modal sensing suite consists of high-resolution, high dynamic range and long-range cameras, next-generation imaging radar, and our industry-leading proprietary FirstLight Lidar.
−Removed: FirstLight alone provides a number of meaningful performance advantages over traditional lidar sensors.
+Added: FirstLight alone provides a number of meaningful performance advantages over traditional lidar sensors for long-range sensing.
Traditional pulsed lidar is amplitude-modulated (“AM”), which works by emitting brief light pulses at a fixed frequency.
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Greater Range .
−Removed: Our lidar can see nearly twice as far as a typical automotive AM lidar, because our coherent measurement enables single-photon sensitivity.
+Added: Our lidar can see nearly twice as far as a typical automotive lidar, because our coherent measurement enables single-photon sensitivity.
The enhanced range of our FMCW lidar enables the detection and tracking of objects and actors at the very long ranges essential for high-speed driving.
Simultaneous Range and Velocity .
−Removed: FirstLight instantaneously measures the radial velocity of the targets as well as distance.
+Added: FirstLight instantaneously measures the radial velocity of the objects as well as distance.
This allows quicker reaction times and better tracking of other objects on or near the road.
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The Aurora Driver uses the same hardware suite across trucks and passenger vehicles.
−Removed: Because all Aurora-Driver powered vehicles carry a common set of self-driving hardware and software, Aurora and its partners benefit from the collective scale of all participants on the platform.
+Added: Because all Aurora-Driver powered vehicles carry a common core of self-driving hardware and software, Aurora and its partners benefit from the collective scale of all participants on the platform.
Significant Investments in Virtual Development
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Volvo Group Strategic Partnership
−Removed: In March 2021, Volvo selected us as its technology provider to develop and commercialize Level 4 Class 8 trucks in North America.
+Added: In March 2021, Volvo selected us as its technology provider to develop and jointly commercialize Level 4 Class 8 trucks in North America.
Our first commercial truck with Volvo will be adapted to the requirements of the Aurora Driver.
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This partnership will be the center of the integration of the Aurora Driver into Volvo’s on-highway trucks and development of industry-leading Transportation as a Service solutions.
+Added: Continental Strategic Partnership
+Added: In April 2023, we entered into an exclusive partnership with Continental to deliver the first commercially scalable future generation of the Aurora Driver.
+Added: As part of this partnership, we work with Continental to jointly design, develop, validate, deliver, and service the scalable autonomous system for the industry.
+Added: We will leverage Continental’s decades of experience in systems development for safer, more reliable automotive solutions to industrialize the Aurora Driver and deliver the entire hardware required.
+Added: Additionally, Continental will manage the complete lifecycle of the supplied autonomous hardware kits for the Aurora Driver, from the manufacturing line to decommissioning.
+Added: Continental will also develop a new industrialized fallback system as one of the redundancies in the event of a failure in the primary system of the Aurora Driver.
+Added: Under the “Hardware-as-a-Service” business model, Aurora will pay for the hardware and related services on a per mile basis.
+Added: We believe this long-term partnership is a crucial step to commercialize autonomous trucks at scale and achieve our profitability objectives.
Government Regulation
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Department of Transportation and its agencies.
−Removed: At Aurora, we work with the federal government to ensure it maintains its regulatory authority over the design, construction, and performance of vehicles and applies that same authority to the regulation of highly automated vehicles.
+Added: At Aurora, we work with the federal government to ensure it maintains its regulatory authority over the design, construction, and performance of vehicles and applies that same authority to the regulation of autonomous vehicles.
As vehicles equipped with our sensors are deployed on public roads, we will be subject to legal and regulatory authorities such as the National Highway Traffic Safety Administration (NHTSA), the Federal Motor Carrier Safety Administration (FMCSA), state agencies like Departments of Transportation or Departments of Motor Vehicles, and local transportation departments.
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Some states, particularly California, institute operational requirements or restrictions for certain autonomous functions.
−Removed: We believe such hurdles will be removed as we work with our government partners to highlight the benefits of self-driving technology.
+Added: We believe such hurdles will be removed in the future as we work with our government partners to highlight the benefits of self-driving technology.
We work closely with state and local elected officials and regulatory bodies to ensure they continue to welcome the testing and deployment of self-driving vehicles on their roads.
−Removed: By working with these officials to develop technology neutral policies that promote a diverse set of highly automated vehicle use cases and create a level playing field for the industry, we believe that Aurora will be able deliver the benefits of self-driving technology safely, quickly, and broadly.
+Added: By working with these officials to develop technology neutral policies that promote a diverse set of autonomous vehicle use cases and create a level playing field for the industry, we believe that Aurora will be able deliver the benefits of self-driving technology safely, quickly, and broadly.
Similar such reporting and regulatory requirements exist or are being developed in foreign markets.
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Germany, a leader in the automotive industry, recently approved legislation that would allow for the deployment of self-driving technology without a human driver.
−Removed: Given the intense work in these areas, we expect a workable path forward in the near-term.
+Added: Given the intense work in these areas, we expect several foreign markets to provide a workable path forward for autonomous vehicle operations in their respective jurisdictions in the near-term.
We are subject to the Electronic Product Radiation Control Provisions of the Federal Food, Drug, and Cosmetic Act.
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Fostering a sustainable environment is also important to us.
−Removed: Starting in 2019, we offset our estimated annual carbon emissions from our facilities, vehicles and air travel by purchasing carbon credits, and we expect to continue to do this in the future.
+Added: Starting in 2019, we offset our estimated annual carbon emissions from our facilities, vehicles and air travel by purchasing carbon credits through 2021, and we expect to continue to do this in the future when we generate operating profit.
Longer-term, we believe commercialization of our self-driving technology will contribute to a more sustainable future given the potential to materially reduce fuel consumption and greenhouse gas emissions.
We believe that autonomous trucks have the potential to materially reduce fuel consumption and greenhouse gas emissions meaningfully through eco-driving, off-peak deployment, and capping peak speeds.
−Removed: As of December 31, 2022, we have approximately 1,700 employees.
+Added: As of December 31, 2023, we had approximately 1,800 employees.
None of our employees are represented by a labor union, and we consider our employee relations to be in good standing.
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We celebrate our employees’ achievements through company-wide recognition programs.
−Removed: Alongside these programs, we offer a competitive total rewards package including industry-benchmarked base salaries and a performance-based bonus plan, equity ownership, generous time off, paid parental leave, a 401(k) to help our employees plan for the future, and a wide selection of health and wellness benefits plans for employees and their dependents.
+Added: Alongside these programs, we offer a competitive total rewards package including industry-benchmarked base salaries and a performance-based bonus plan, equity ownership, generous time off, paid parental leave, a 401(k) plan to help our employees plan for the future, and a wide selection of health and wellness benefits plans for employees and their dependents.
We also proactively gather employee feedback through various channels, including surveys and focus groups to ensure changes to our employee experience are meaningful and relevant.
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Our principal executive offices are located at 1654 Smallman St, Pittsburgh, Pennsylvania 15222.
−Removed: The transfer agent and registrar for our common stock and the warrant agent for our warrants is American Stock Transfer & Trust Company.
−Removed: The transfer agent’s address is 6201 15th Avenue, Brooklyn, New York 11219, and its telephone number is (800) 937-5449.
+Added: The transfer agent and registrar for our common stock and the warrant agent for our warrants is Equiniti Trust Company, LLC.
+Added: The transfer agent’s address is 48 Wall Street, Floor 23, New York, NY 10005, and its telephone number is (800) 937-5449.
Available Information
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.