Goodyear Invests in Autonomous Trucking Company Gatik and Collaborates to Enhance Safety and Efficiency for Autonomous Middle Mile Logistics

AKRON, Ohio and PALO ALTO, Calif., Sept. 28, 2021 (GLOBE NEWSWIRE) -- Goodyear (Nasdaq: GT) and Gatik today announced a multi-year collaboration with a goal to advance the development of mobility solutions for the autonomous B2B short-haul logistics industry. The collaboration will contribute to safer, more sustainable goods movement while reducing costs for Gatik's customers in the B2B short-haul market nationwide.

Gatik has established the first autonomous middle mile logistics network in North America and is rapidly expanding its fleet of Class 3-6 autonomous box trucks for customers in multiple markets, including Texas, Arkansas, Louisiana and Ontario. Goodyear, a leader in connected mobility, is one of the world's largest tire companies with over 120 years' experience in developing state-of-the-art products and services that set technology and performance standards for the industry. This national collaboration expands service levels and capacity for both organizations across the U.S.

Under the collaboration, Goodyear's venture capital fund, Goodyear Ventures, participated in Gatik's recently announced Series B funding and the companies will work on multiple innovative projects. Gatik's medium-duty fleet will use tires equipped with tire intelligence technology powered by Goodyear SightLine, a suite of tire intelligence solutions, building upon Goodyear's existing connected tire management products in an effort to improve stopping distances in autonomous commercial vehicles and monitor tire pressure in real time for enhanced safety and reduced wear. As Gatik commercializes its operations at scale, the use of tire intelligence solutions is expected to help reduce fuel and maintenance costs while increasing operational efficiencies for retailers, e-commerce companies and distributors employing Gatik's autonomous solution.

"By leveraging our advanced tire intelligence solutions, Goodyear can help improve vehicle performance and safety in autonomous transportation," said Chris Helsel, Goodyear's senior vice president, global operations and chief technology officer. "Together, Goodyear and Gatik will combine our innovative technologies to help bring more efficiency in the increasingly important middle mile segment."

"The benefits of Goodyear's tire intelligence technology are grounded in enhancing safety, increasing efficiency and reducing costs ? principles which are absolutely fundamental to Gatik's mission and success," said Arjun Narang, CTO and co-founder, Gatik. "This collaboration will enable us to further increase the value we offer our customers across the continent and help define new standards in safety and sustainability for the B2B short-haul sector."

"Gatik's mission to deliver goods safely and efficiently using autonomous vehicles aligns with our investment strategy, making them a great addition to our portfolio, which already includes key autonomous delivery players in the long-haul and last-mile delivery markets," said Abhijit Ganguly, managing director, Goodyear Ventures. "We believe this investment is a strong strategic fit for Goodyear as we seek to learn more about the implications of autonomous technologies in middle mile delivery and logistics."

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 72,000 people and manufactures its products in 55 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

About Gatik

Gatik, the leader in autonomous Middle Mile logistics, delivers goods safely and efficiently using its fleet of light and medium duty trucks. The company focuses on short-haul, B2B logistics for Fortune 500 retailers such as Walmart and Loblaw. Gatik's Class 3-6 Autonomous Box Trucks are live for customers in multiple markets including Texas, Arkansas, Louisiana and Ontario. Founded in 2017 by veterans of the autonomous technology industry, the company has offices in Palo Alto and Toronto. Gatik was recognized on the 2021 Forbes AI 50 list and as a World Economic Forum Technology Pioneer.

Media Contacts

Dilki Kandanarachchi
330.796.6505
[email protected]
www.goodyearnewsroom.com

Megan Kathman
651.785.3212
[email protected]

Richard Steiner
416.836.9185
[email protected]
www.gatik.ai

A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3e613134-6f36-40bf-8470-34083ec69725