USA - Plus (formerly Plus.ai), a developer of self-driving truck technology, has entered into a definitive business combination agreement with Hennessy Capital Investment Corporation*, a publicly traded special purpose acquisition company. Upon closing, Plus says it will be a publicly traded company and its common stock is expected to trade on the NYSE under the ticker symbol ‘PLAV.’ The transaction represents a market capitalisation of approximately USD3.3bn for Plus.

Plus’s technology, PlusDrive, uses advanced sensing technologies, including radar, LiDAR, and cameras to provide a 360-degree sensing system. Data gathered through the sensors help the system identify objects nearby, plan its course, predict the movement of those objects, and finally control the vehicle to make its next move safely. Plus’s advanced multi-modal sensor system solves vibration and long-range camera drift problems for mass production as well as adequately addresses adverse weather and lighting for commercial deployment.