Autonomous truck startup Plus to go public in $1.2 billion deal with Michael Klein-backed SPAC
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 05 2025
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Should l Buy CCIX?
Source: Reuters
Merger Announcement: Self-driving truck startup Plus Automation will go public via a $1.2 billion merger with Churchill Capital Corp IX, providing Plus with $300 million to fund the launch of its autonomous trucks in 2027.
Industry Context: The push for self-driving technology is gaining momentum as U.S. truck operators seek automation to cut costs amid driver shortages, with regulatory changes potentially easing the path for deployment.
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About CCIX
Churchill Capital Corp IX is a blank check company. The Company is formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company has no operations and has not generated any revenues.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
PlusAI Achieves Four ISO Certifications, Accelerating Autonomous Truck Commercialization
- Quadruple ISO Certifications: PlusAI has achieved ISO 9001, ISO/SAE 21434, ISO 26262, and ISO 27001 certifications, marking its readiness for the autonomous truck market and enhancing trust with global OEM partners.
- Safety Milestone: The company recently reached a 90.1% Safety Case Readiness (SCR), establishing a solid foundation for the planned 2027 launch of factory-built autonomous trucks, thereby reducing market risks.
- Expanded Strategic Partnerships: Under an expanded agreement, TRATON GROUP commits up to $25 million in R&D funding to accelerate the factory integration of SuperDrive™, further solidifying PlusAI's leadership in the autonomous driving sector.
- International Market Expansion: PlusAI's collaboration with IVECO and Sesé to launch the first L4 autonomous trucking program in Southern Europe marks a critical advancement in the European market, while its partnership with Mitsui and T2 in Japan addresses local driver shortages.
See More
Churchill Capital IX Delays Shareholder Meeting
- Meeting Postponement: Churchill Capital IX has postponed its extraordinary general meeting originally scheduled for February 3, 2026, to February 11, 2026, to allow more time for shareholder engagement, particularly following PlusAI's announcement of its expanded partnership with TRATON Group, indicating the company's commitment to shareholder feedback.
- Redemption Request Deadline Extended: The deadline for public shareholders to submit redemption requests has been extended from January 30, 2026, to February 9, 2026, providing shareholders additional time to consider their investment decisions, which may impact the liquidity of the merger transaction.
- Voting Rights Assurance: All shareholders of record as of January 7, 2026, are entitled to vote at the postponed meeting, and Churchill Capital IX encourages those who have not yet voted to submit their proxies promptly, ensuring that every shareholder's voice is heard and enhancing corporate governance transparency.
- Post-Merger Listing Plans: Assuming shareholder approval of the merger, the combined company intends to list its common stock and public warrants on Nasdaq under the proposed symbols “PLS” and “PLSW,” which will lay the groundwork for future capital operations and market expansion.
See More
TRATON Group Accelerates Deployment of Autonomous Trucks
- R&D Funding Commitment: TRATON Group commits up to $25 million in R&D funding to PlusAI to accelerate the integration of SuperDrive™ technology into its truck brands, thereby advancing the commercialization of autonomous trucks and enhancing market competitiveness.
- Board Nomination: TRATON will nominate a board member following PlusAI's planned public listing, further strengthening strategic collaboration in product development and market rollout, ensuring alignment and synergy in autonomous driving technology.
- Pilot Program Progress: International brand and PlusAI launched customer fleet trials in Texas using next-generation tractors equipped with SuperDrive™, marking a significant step toward the commercialization of autonomous trucks and boosting customer confidence in the technology.
- Safety Validation Testing: PlusAI completed a series of driverless safety maneuver tests, validating the SuperDrive™ system's emergency handling capabilities in complex scenarios, further advancing the TRATON-PlusAI partnership toward commercial operations.
See More
Mitsui Invests in PlusAI to Advance Autonomous Trucking in Japan
- Strategic Partnership: PlusAI and T2 Inc. announced a strategic partnership to introduce Level 4 autonomous trucks in Japan, leveraging T2's expertise in technology design and logistics operations, which is expected to significantly enhance safety and efficiency in Japan's logistics system.
- Investment Support: Mitsui's investment in PlusAI reflects its long-term commitment to next-generation mobility, aiming to address Japan's persistent driver shortage by introducing autonomous driving technology, thereby enhancing sustainability in the logistics sector.
- Market Demand: Japan faces dual challenges of driver shortages and rising freight demand, and the introduction of autonomous trucks is poised to improve safety and productivity across the logistics network, meeting the urgent market need for efficient transportation services.
- Global Experience: PlusAI's successful collaborations with global truck manufacturers in the U.S. and Europe will provide valuable insights for the commercialization of autonomous trucks in Japan, facilitating the transformation and upgrading of the country's logistics industry.
See More
PlusAI Appoints Tech Veterans to Board, Enhancing Governance Ahead of Public Listing
- Board Enhancement: PlusAI has appointed David C. Peterschmidt and Harry J. Harczak, Jr. to its board, both of whom bring decades of public company experience in technology and finance, aiming to strengthen governance in preparation for the upcoming public listing.
- Listing Preparation: The appointments will take effect following PlusAI's merger with Churchill Capital Corp IX, expected to close in Q1 2026, marking a significant transition to public markets for the company.
- Strategic Guidance: Peterschmidt and Harczak will provide strategic oversight to PlusAI as it prepares to commercialize its SuperDriveTM virtual driver technology while ensuring the deployment of safe and scalable autonomous trucking solutions.
- Investor Confidence Boost: The new board members are expected to enhance investor confidence in PlusAI, particularly as the company collaborates with several major automotive manufacturers to accelerate the deployment of autonomous trucks.
See More
PlusAI and Churchill IX Update on Business Combination Progress
- Merger Progress: PlusAI and Churchill IX have submitted their joint registration statement to the SEC, marking a significant step toward their merger, which is expected to close in Q1 2026 pending shareholder approval and will list on Nasdaq.
- Technological Innovation: PlusAI's SuperDrive™ system achieved a Safety Case Readiness of 86% in H1 2025, an 11% increase from H2 2024, indicating ongoing improvements in core safety and system maturity, thereby enhancing competitive positioning.
- Customer Trials: PlusAI launched customer fleet trials in Texas with International Trucks, deploying next-generation tractors equipped with SuperDrive™, laying the groundwork for future commercial launches.
- Global Collaboration: PlusAI partnered with Scania and Red Bull to successfully demonstrate the world's first precision jump with driverless trucks, showcasing the technology's exceptional performance under dynamic conditions and enhancing brand visibility.
See More
PlusAI Achieves Four ISO Certifications, Accelerating Autonomous Truck Commercialization
- Quadruple ISO Certifications: PlusAI has achieved ISO 9001, ISO/SAE 21434, ISO 26262, and ISO 27001 certifications, marking its readiness for the autonomous truck market and enhancing trust with global OEM partners.
- Safety Milestone: The company recently reached a 90.1% Safety Case Readiness (SCR), establishing a solid foundation for the planned 2027 launch of factory-built autonomous trucks, thereby reducing market risks.
- Expanded Strategic Partnerships: Under an expanded agreement, TRATON GROUP commits up to $25 million in R&D funding to accelerate the factory integration of SuperDrive™, further solidifying PlusAI's leadership in the autonomous driving sector.
- International Market Expansion: PlusAI's collaboration with IVECO and Sesé to launch the first L4 autonomous trucking program in Southern Europe marks a critical advancement in the European market, while its partnership with Mitsui and T2 in Japan addresses local driver shortages.
See More
Churchill Capital IX Delays Shareholder Meeting
- Meeting Postponement: Churchill Capital IX has postponed its extraordinary general meeting originally scheduled for February 3, 2026, to February 11, 2026, to allow more time for shareholder engagement, particularly following PlusAI's announcement of its expanded partnership with TRATON Group, indicating the company's commitment to shareholder feedback.
- Redemption Request Deadline Extended: The deadline for public shareholders to submit redemption requests has been extended from January 30, 2026, to February 9, 2026, providing shareholders additional time to consider their investment decisions, which may impact the liquidity of the merger transaction.
- Voting Rights Assurance: All shareholders of record as of January 7, 2026, are entitled to vote at the postponed meeting, and Churchill Capital IX encourages those who have not yet voted to submit their proxies promptly, ensuring that every shareholder's voice is heard and enhancing corporate governance transparency.
- Post-Merger Listing Plans: Assuming shareholder approval of the merger, the combined company intends to list its common stock and public warrants on Nasdaq under the proposed symbols “PLS” and “PLSW,” which will lay the groundwork for future capital operations and market expansion.
See More
TRATON Group Accelerates Deployment of Autonomous Trucks
- R&D Funding Commitment: TRATON Group commits up to $25 million in R&D funding to PlusAI to accelerate the integration of SuperDrive™ technology into its truck brands, thereby advancing the commercialization of autonomous trucks and enhancing market competitiveness.
- Board Nomination: TRATON will nominate a board member following PlusAI's planned public listing, further strengthening strategic collaboration in product development and market rollout, ensuring alignment and synergy in autonomous driving technology.
- Pilot Program Progress: International brand and PlusAI launched customer fleet trials in Texas using next-generation tractors equipped with SuperDrive™, marking a significant step toward the commercialization of autonomous trucks and boosting customer confidence in the technology.
- Safety Validation Testing: PlusAI completed a series of driverless safety maneuver tests, validating the SuperDrive™ system's emergency handling capabilities in complex scenarios, further advancing the TRATON-PlusAI partnership toward commercial operations.
See More
Mitsui Invests in PlusAI to Advance Autonomous Trucking in Japan
- Strategic Partnership: PlusAI and T2 Inc. announced a strategic partnership to introduce Level 4 autonomous trucks in Japan, leveraging T2's expertise in technology design and logistics operations, which is expected to significantly enhance safety and efficiency in Japan's logistics system.
- Investment Support: Mitsui's investment in PlusAI reflects its long-term commitment to next-generation mobility, aiming to address Japan's persistent driver shortage by introducing autonomous driving technology, thereby enhancing sustainability in the logistics sector.
- Market Demand: Japan faces dual challenges of driver shortages and rising freight demand, and the introduction of autonomous trucks is poised to improve safety and productivity across the logistics network, meeting the urgent market need for efficient transportation services.
- Global Experience: PlusAI's successful collaborations with global truck manufacturers in the U.S. and Europe will provide valuable insights for the commercialization of autonomous trucks in Japan, facilitating the transformation and upgrading of the country's logistics industry.
See More
PlusAI Appoints Tech Veterans to Board, Enhancing Governance Ahead of Public Listing
- Board Enhancement: PlusAI has appointed David C. Peterschmidt and Harry J. Harczak, Jr. to its board, both of whom bring decades of public company experience in technology and finance, aiming to strengthen governance in preparation for the upcoming public listing.
- Listing Preparation: The appointments will take effect following PlusAI's merger with Churchill Capital Corp IX, expected to close in Q1 2026, marking a significant transition to public markets for the company.
- Strategic Guidance: Peterschmidt and Harczak will provide strategic oversight to PlusAI as it prepares to commercialize its SuperDriveTM virtual driver technology while ensuring the deployment of safe and scalable autonomous trucking solutions.
- Investor Confidence Boost: The new board members are expected to enhance investor confidence in PlusAI, particularly as the company collaborates with several major automotive manufacturers to accelerate the deployment of autonomous trucks.
See More
PlusAI and Churchill IX Update on Business Combination Progress
- Merger Progress: PlusAI and Churchill IX have submitted their joint registration statement to the SEC, marking a significant step toward their merger, which is expected to close in Q1 2026 pending shareholder approval and will list on Nasdaq.
- Technological Innovation: PlusAI's SuperDrive™ system achieved a Safety Case Readiness of 86% in H1 2025, an 11% increase from H2 2024, indicating ongoing improvements in core safety and system maturity, thereby enhancing competitive positioning.
- Customer Trials: PlusAI launched customer fleet trials in Texas with International Trucks, deploying next-generation tractors equipped with SuperDrive™, laying the groundwork for future commercial launches.
- Global Collaboration: PlusAI partnered with Scania and Red Bull to successfully demonstrate the world's first precision jump with driverless trucks, showcasing the technology's exceptional performance under dynamic conditions and enhancing brand visibility.
See More
