The California-based startup – Phantom Auto utilizes advanced technology to offer remote operation for vehicles in far-off places. The company has bagged a deal with Mitsubishi Logisnext Co where the drivers can operate forklifts sitting in one place. The company offers software that makes it easier to control the vehicles that are in a different location using remote operation.
The innovative technology will help the manufacturing industry as there is a massive difference in demand and supply. Lay-offs have been trending in the non-essential manufacturers as there is a halt in the operations and the manufacturers of the essential products are getting accustomed to the change with few employees. As per a study, the manufacturing labor shortage is estimated at 2.4 million by 2028. Due to restrictions caused by the pandemic there can’t be any sudden fix for the problem.
The global market for forklifts is over $ 45 billion and Kyoto -based Mitsubishi Logisnext is the third-largest company in the sector. The deal between Phantom Auto and Mitsubishi allows the drivers to manage the work remotely to move forklifts around a warehouse in California.
With this shift, there will be efficient workers available to work overcoming the geographical limitations. With the new technology forklift operation costs can be reduced by 30% or more.
Most of the countries, especially the U.S and Japan are grappling with the labor crunch. As there is a surge in the e commerce businesses for consumer goods there is a high need for the warehouses and distribution centers to get on track and boost their operations. Such software is required at these unprecedented times where there is a lack of workers and fear of the pandemic.
Phantom Auto invested nearly $20 million in the new technology; it plans to scale up the revenue with this deal. Additionally, the plan for future deployment in autonomous vehicle fleets can be augmented.
The company wants to secure self-driving vehicles in the future against uncertainties; in case there is any glitch that needs to be addressed, the humans on standby can control and navigate the vehicle. The company plans to use the same technology that it is integrating with the logistics in future robot taxis. Therefore the self drive segment will not have major deployment.
