Embark Trucks went public via a SPAC merger with Northern Genesis Acquisition II in a $5.16bn deal.

Embark Trucks, a manufacturer of self-driving trucks, went public via a SPAC merger with Northern Genesis Acquisition II in a $5.16bn deal. Investors in PIPE included CPP Investments, Knight-Swift Transportation, Mubadala Capital, Sequoia Capital, Tiger Global Management and Northern Genesis. “The Northern Genesis team is enthused to partner with Embark as it continues to execute on its focused mission, a mission that began more than five years ago. Our respective teams share a conviction that success today demands alignment with the ongoing secular shifts towards sustainability and social responsibility; Embark’s commitment to autonomous trucking delivers that alignment through enhanced fuel efficiency, improved driver working conditions, and safer roads for everyone," Ian Robertson, Northern Genesis Acquisition II Director and CEO.