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Autonomous Trucking Upstart Embark Goes From $5B Valuation To Kaput In 16 Months

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Autonomous trucking startup Embark Trucks announced that it is laying off most employees and winding down operations.

Joanna Glasner jglasner 211 Shares Email Facebook Twitter LinkedIn Autonomous trucking startup Embark Trucks capped off one of the faster riches-to-rags stories of the SPAC era, announcing that it is laying off most employees and winding down operations. In a Friday email to employees, CEO and co-founder Alex Rodrigues wrote that “after thoroughly evaluating all alternatives, we have been unable to identify a path forward for the business in its current form.” The planned closure comes just 16 months after San Francisco-based Embark went public through a SPAC merger at a target initial market

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