Home Truck News TuSimple seeks buyer for U.S. autonomous truck business - Truck News

TuSimple seeks buyer for U.S. autonomous truck business – Truck News

TuSimple, one of the pioneers in developing autonomous trucks, is now looking for potential buyers for its U.S. business – but wants to keep operations in the Asia-Pacific region and other global markets.

Perella Weinberg Partners has been engaged as a financial advisor as the business explores “strategic alternatives for the U.S. business, including a possible sale,” the company has announced in a press release.

“No assurances can be given that TuSimple’s exploration of strategic alternatives will result in any change in strategy or a transaction,” it added. “The decision to explore strategic alternatives for the U.S. business was guided by the company’s review of multiple business factors and commercial opportunities.”

No further comment is being offered until the board approves a specific transaction or alternative.

Navistar autonomous truck
(File photo: Navistar)

TuSimple was established in 2015, developing Level 4 autonomous driving technology, and has achieved several benchmarks. It was the first company to complete operations on public roads without drivers in cabs.

Successful tests and struggles

Most recently, it demonstrated an autonomous semi on public roads in Shanghai, China. And it had also completed a driverless 130-km trip between an Arizona distribution center and rail yard. Tests of its Level 4 autonomous trucks have also begun on a Japanese freight corridor.

But there have been struggles as well. A TuSimple truck collided with a concrete median in Tucson, Arizona in April 2022, although the Federal Motor Carrier Safety Administration (FMCSA) didn’t issue any related penalties.

Navistar, which was working with TuSimple, shelved co-development plans later that year, but said the companies could work together in the future.

The two companies had agreed in 2020 to work together in developing an autonomous truck by 2024.


Credit: Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Planning and education enables fleet electrification: Truck World’s panel – Truck News

The integration of battery electric vehicles (BEVs) into fleets demands meticulous planning and...

More than 1 million Freightliner Cascadias sold – Truck News

Daimler Truck North America (DTNA) has now sold 1 million Freightliner Cascadias. “With...

More than 100 Navistar dealers authorized to sell and support EVs – Truck News

Navistar now has more than 100 dealers authorized to sell and support...

Higher electrification potential for rural, short-haul runs: Geotab report – Truck News

While half of Canadian commercial vehicles are electric vehicles (EV)-suitable, electrification is...

PacLease names Kenworth Ontario Canadian franchise of the year – Truck News

Toronto-headquartered Kenworth Ontario PacLease was named as PacLease’s 2023 Canadian franchise of the year.  With eight...