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PACCAR and Platform Science Announce Strategic Equity Investment

BELLEVUE, Wash.--(BUSINESS WIRE)--PACCAR announced today that it has made a minority equity investment in its connected truck partner, Platform Science. This strategic investment complements the partnership recently launched by PACCAR and Platform Science to integrate Platform Science’s Virtual Vehicle technology with the PACCAR Connect telematics system.

The integrated product will offer Kenworth and Peterbilt customers a standardized telematics operating system and application store, enabling customers to access software solutions, real-time vehicle data, and third-party applications directly from their vehicles. The vehicle information technology environment will be simplified by reducing the number of telecommunications devices required on the vehicle. Factory installation will increase customers’ productivity and uptime by eliminating the aftermarket installation process.

John Rich, PACCAR chief technology officer, said, “PACCAR is pleased to deepen this strategic relationship by investing in Platform Science. PACCAR Connect will be the industry’s most user-friendly, customizable and productive connected truck solution, and will enhance our customers’ agility and operating efficiency. We look forward to launching the system on Kenworth and Peterbilt trucks in 2024.”

“Platform Science’s Virtual Vehicle will bring a whole new dimension of adaptive ingenuity to trucks, empowering operators to tap into a broad suite of solutions that precisely meet their fleets’ needs,” said Jack Kennedy, Platform Science co-founder & CEO. “For more than a century, PACCAR has been a leader in designing, developing and manufacturing world-class transportation solutions, and we are proud to collaborate with their team.”

About PACCAR

PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR also designs and manufactures advanced powertrains, provides financial services and information technology, and distributes truck parts related to its principal business.

About Platform Science

Platform Science is transforming transportation technology by empowering enterprise fleets with a unified, user-friendly technology platform. Platform Science makes it easy to develop, deploy and manage mobile devices and applications on commercial vehicles, giving fleets an edge in efficiency, flexibility, visibility, and productivity. For more information, please visit www.platformscience.com.

Contacts

Ken Hastings
(425) 468-7530
ken.hastings@paccar.com

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PACCAR Inc

NASDAQ:PCAR
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Contacts

Ken Hastings
(425) 468-7530
ken.hastings@paccar.com

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