Autonomous Trucking Technology Company Plus Expands Business to Europe

Bosch Veteran Hired to Accelerate European Expansion

CUPERTINO, October 19, 2021

Autonomous Trucking Technology Company Plus Expands Business to Europe

Cupertino, CA ‒ October 19, 2021 ‒ Plus (formerly Plus.ai), a global provider of self-driving truck technology, announced that the company is expanding its business presence into Europe. Plus has hired Bosch veteran and Germany-native Sun-Mi “Sunny” Choi as Senior Director of Business Development to accelerate its European expansion as the company grows its global footprint. Choi will help deepen existing and future collaboration with truck manufacturers, suppliers, and other Europe-based partners. Plus has already started global customer deployment of its autonomous trucking technology this year.

Choi brings to Plus extensive automotive customer, market, and strategic partnership experience in the area of new mobility and technology across Europe, the U.S., China, and Korea. She was previously Director of Business Development and Strategy at Bosch where she cultivated new business and partnerships focused on Connected, Automated, Shared and Electrified Mobility. In her decade at Bosch where she was posted in Germany, Korea, China, and the U.S, she also served as Chief of Staff to the Board member of the Bosch Group overseeing Asia Pacific. Choi started her career as a project manager for complex engineering projects at the industrial manufacturing technology company Siemens.

“Europe is an exciting market for autonomous trucking development. Our expansion into Europe will help us deepen our partnerships with OEMs and collaborations with key suppliers and partners. Sunny will play a key role in those efforts as we look to accelerate the scale of our delivery,” said Shawn Kerrigan, COO and Co-Founder of Plus.

Sunny Choi said, “This is an exciting time for mobility and autonomous trucking, and a unique opportunity to be joining the experienced and growing Plus team. Plus’s key strength and differentiator is that it is the first technology developer to have started commercial deployment of autonomous trucking technology to customers. Plus's driver-in PlusDrive solution provides significant value to customers and accelerates the development of our L4 fully autonomous system. I look forward to leveraging my multilingual skills and global mindset to build meaningful partnerships as Plus expands to Europe.”

About Plus

Plus is a global leader in autonomous driving technology for long-haul trucking, headquartered in Silicon Valley. Plus is developing high-performance full-stack Level 4 autonomous driving technology to enable driverless trucks. Plus’s first commercial product, PlusDrive, is a driver-in solution that supports drivers to make long-haul trucking safer, more efficient, more comfortable, and more sustainable. PlusDrive is already being delivered to world-class customers including fleets and truck manufacturers. For more information, please visit www.plus.ai or follow us on LinkedIn or YouTube.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Plus’s future plans, strategy and performance. Such statements include, but are not limited to, the capability of Plus’s technology, the timing for when Plus expects to launch pilot operations of a fully driverless truck for use in a dedicated environment, the timing for mass production of the FAW J7 L3 truck, and statements relating to the proposed business combination between Plus and HCIC V including the timing for the closing of such transaction. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially, including the ability of Plus to commercialize its autonomous driving system, Plus’s relationship with FAW Jiefang, delays in the design, production and launch of new products, risks related to the proposed business combination between Plus and HCIC V and those more fully described under the section entitled “Risk Factors” in Form F-4 that Plus will file with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this press release, and Plus assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.