A new startup co-founded by former SpaceX engineers is developing autonomous, battery-powered electric rail vehicles that can be as small as a single shipping container. Parallel Systems says its rail vehicles can carry nearly three times more capacity than a semi-truck, travel up to 500 miles between charges, and recharge in less than one hour. The company announced this along with a USD50 million Series A round led by Anthos Capital.The US has the largest rail system in the world and today the railroad companies rely on huge volumes and very long trains to transport those loads. The average train is more than 1.2 miles long. In some cases, this makes it difficult for rail to compete with US trucking industry, which is better-equipped to handle smaller loads and shorter distances. Parallel Systems aims to move smaller volumes and get closer to population hubs, which could make rail more aligned with current logistics trends. With limited real estate around major ports, many companies are moving warehouses and distribution centers closer to the cities they serve. This technology could also make rail transport safer by drastically decreasing the amount of time a train needs to stop, and help address both supply-chain bottlenecks and the truck-driver shortageThe autonomous vehicles use a camera system to navigate and stop. The closely controlled rail network, as opposed to busy streets, provides an ideal environment to commercialize autonomous technologyParallel Systems plans to commercialize its third-generation vehicle, but it hasn’t announced if it has any commercial partners or provided a timeline for those plans.
A new startup co-founded by former SpaceX engineers is developing autonomous, battery-powered electric rail vehicles that can be as small as a single shipping container. Parallel Systems says its rail vehicles can carry nearly three times more capacity than a semi-truck, travel up to 500 miles between charges, and recharge in less than one hour. The company announced this along with a USD50 million Series A round led by Anthos Capital.The US has the largest rail system in the world and today the railroad companies rely on huge volumes and very long trains to transport those loads. The average train is more than 1.2 miles long. In some cases, this makes it difficult for rail to compete with US trucking industry, which is better-equipped to handle smaller loads and shorter distances. Parallel Systems aims to move smaller volumes and get closer to population hubs, which could make rail more aligned with current logistics trends. With limited real estate around major ports, many companies are moving warehouses and distribution centers closer to the cities they serve. This technology could also make rail transport safer by drastically decreasing the amount of time a train needs to stop, and help address both supply-chain bottlenecks and the truck-driver shortageThe autonomous vehicles use a camera system to navigate and stop. The closely controlled rail network, as opposed to busy streets, provides an ideal environment to commercialize autonomous technologyParallel Systems plans to commercialize its third-generation vehicle, but it hasn’t announced if it has any commercial partners or provided a timeline for those plans.
