TuSimple Holdings shares, battered since announcing a sudden leadership change earlier in March, rebounded Wednesday after Reuters reported the autonomous truck developer may offload its autonomous trucking business in China.
TuSimple (NASDAQ: TSP), which leads the commercialization of autonomous trucking in the U.S., hasn’t talked much about its China business, which focused on deepwater ports near Shanghai. TuSimple is in talks to sell the unit for up to $1 billion, Reuters said, citing three...