Autonomous Rail Freight Vehicles
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The Parallel Systems Series C raised $100 million, led by AVP, to scale production of the 'Panther,' a driverless, battery-powered rail vehicle capable of moving several tons of freight up to 500 miles without an operator. Hillspire, Agility Global and Collaborative Fund also participated in the round.
Panther vehicles travel alone or in short, coupler-free platoons that can split apart in rail yards without human help. The Federal Railroad Administration approved operations near the Port of Savannah, where Parallel has run on 160 miles of track to validate safety, with its first commercial payload expected soon.
As trucking companies continue to face rising diesel costs and bankruptcies, Parallel's battery-powered approach signals how autonomous rail could help railroads win back short-haul freight.
