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Autonomous trucking startup TuSimple goes private
On Wednesday,...
TuSimple Holdings, once a leader in U.S. autonomous trucking development, is winding down its operations after a five-month review apparently found no takers for its business that was the first to conduct a driverless pilot two years ago.
TuSimple went through a brutal internal leadership struggle in late 2022 that was at least partly responsible for chasing away Navistar International, its development partner on a purpose-built autonomous truck. The two sides broke up a year ago this week after...
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In a video and blog post on LinkedIn, a media pitch and in overdue federal filings, TuSimple...
https://www.freightwaves.com/news/is-tusimples-patent-promo-intended-to-find-a-buyer
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As transportation and electrification startups struggle to raise capital, they are increasingly...
https://www.freightwaves.com/news/cash-poor-transportation-startups-gambling-for-fresh-capital
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At least one member of a federal watchdog group urged an espionage investigation into the founders...
It is pretty much acknowledged across the trucking industry that a consolidation of players in autonomous trucking is coming. Money is tight. Borrowing is expensive. Share prices and corresponding book values are in the dumper.
The coming shakeoutNo single factor proves a shakeout among autonomous trucking players is coming. But an accumulation of evidence suggests that not all of today’s entrants will survive as independents.
PitchBook writes of mobility tech in its 2023 Industry and Technology...
https://www.freightwaves.com/news/how-soon-will-we-see-an-autonomous-trucking-shakeout
Docudrama script writers must be giddy at the “Succession”-esque tale unfolding at TuSimple Holdings. Just a year ago it leapfrogged the competition by demonstrating an 80-mile driverless truck pilot on a U.S. public highway.
TuSimple repeated the technological feat, several times early in 2022. But then it gave way to repeated capriciousness that erased 95% of the company’s stock value. Could TuSimple be ripe for a takeover or sale to private equity? Consider:
https://www.freightwaves.com/news/missteps-and-milestones-mark-2022-in-autonomous-trucking
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TuSimple Holdings laid off 350 employees — 25% of its workforce — on Wednesday, the latest blow to...
https://www.freightwaves.com/news/tusimple-lays-off-350-employees-as-its-fortunes-worsen
Autonomous trucking developer TuSimple Holdings moved Friday to fill corporate governance holes, naming two additional independent directors and making its interim CFO permanent.
The moves are necessary to ensure San Diego-based TuSimple regains compliance with the Nasdaq to retain its listing. The company was the first to remove the driver from a Class 8 cab last December.
“When I returned to lead TuSimple, I made a commitment to right the ship and set us on a path toward long-term stability and...
https://www.freightwaves.com/news/tusimple-moves-to-fix-its-boardroom-deficiencies