- Houston-headquartered Freight Technologies Inc. is an AI-driven technology developer focused on supporting the commercial trucking industry through efficient and transparent operations
- Recent discussion of cross-border traffic infrastructure projects by Mexico’s and the United States’ ambassadors underscores the importance the two nations place on their mutual trade infrastructure
- Freight Technologies’ Fr8App B2B marketplace helps improve communications between carriers and shippers so they can more efficiently match loads and avoid empty miles
- The company is reporting new record quarterly revenue and expects improving market conditions as the nation continues to rebound from COVID’s economic effects
When Mexico’s ambassador to the United States Esteban Moctezuma outlined the country’s aspirations for the expansion of two binational commercial transport corridors between the countries at August’s U.S.-Mexico Border Environmental Forum, he underscored the importance the nations’ governments place on the role commercial trucks play in sustaining their economies.
The Otay Mesa East-Otay II project south of San Diego, Calif., recently began construction and will create a new crossing that includes five lanes for passenger vehicles and five for cargo transport. The Laredo 4/5 bridge connecting Laredo, Texas with Nuevo Laredo, Mexico is still in the planning stages but would be the fifth international bridge for a city that handled 5.1 million cross-border commercial truck shipments last year.
“Otay Mesa East-Otay II … will become the most modern and innovative crossing on the U.S.-Mexico border,” Moctezuma said during a meeting with his U.S. counterpart, Ken Salazar (https://ibn.fm/3jGNt). “Its goal is to reduce a two-hour crossing time to just 20 minutes. The Laredo 4/5 project is a result of the high-level economic dialogue. This is paradigmatic of how institutionalized dialogue can turn into real actions.”
Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), an OTR shipping technology innovator based in Houston, Texas, is focused on further improving the commerce between the two countries by developing solutions that make the commercial truck industry’s supply chain processes more efficient.
Freight Technologies (aka Fr8Tech) uses automation and transparent, real-time metrics that are communicated between shippers and qualified carriers — concentrating on cross-border as well as intra-national shipping within North America’s NAFTA trade area. The company’s flagship AI-powered Fr8App B2B marketplace can be of particular significance to smaller carriers working to meet Mexico’s tight CFDI 4.0 freight compliance reporting standards by January.
For carriers, Fr8App helps reduce the time matching each load to fill available space and avoid unprofitable miles driven empty — carriers can set their rate, routes, and trucks and have most of the work done for them by the platform. Shippers get transparent pricing to find the lowest cost available on the market for fast load matching and 24/7 tracking of the freight throughout its journey.
Moctezuma stated that the World Trade International Bridge, one of the four cross-border traffic structures already in use in the Laredo region, “is the most important for our bilateral trade. Through active coordination of our economic policies, we will make our supply chains more resilient and expand production in North America.”
Salazar, for his part, acknowledged the importance the U.S. government places on using technology to stop gun trafficking into Mexico and drug trafficking into the United States security with such endeavors.
“Our shared border and security are crucial for our shared prosperity, as they are key components to build a North American economic powerhouse,” he said.
For more information, visit the company’s website at www.Fr8Technologies.com.
NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT
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