A California startup co-founded by three former SpaceX engineers has emerged from stealth with a plan to build autonomous electric vehicles to haul freight by rail, and has raised a sizable pot of ...

Culver City, Calif.-based Parallel Systems is testing autonomous battery-electric railcars for short-haul freight operations, and has raised $49.55 million in Series A funds to help build a fleet, ...

The business of moving goods in the United States is dominated by trucks, which handle about two-thirds of the 20.2 billion tons of freight that’s transported annually. Parallel Systems founder and ...