Today, TuSimple (NASDAQ:TSP) and Navistar announced that their co-development under the 2020 Joint Development Agreement has come to an end. The companies may still collaborate in the future despite the decision to terminate the development arrangement.
“To tackle the difficulties that lie ahead and put TuSimple on the road to long-term stability, I made the decision to return as CEO. We have demonstrated that our technology is effective, and I’m devoted to resolving stakeholder concerns. I have complete faith in this business and its capacity to enhance the productivity and safety of the transportation sector by utilising cutting-edge autonomous driving technology “said Cheng Lu, CEO of TuSimple.
According to Navistar Vice President Srinivas Gowda, “Autonomous driving technologies will be a fundamental component of a future transportation and logistics system. Navistar is committed to the development of a safe and effective autonomous driving solution.”
What TuSimple Is
TuSimple is a multinational autonomous driving technology firm with operations in Arizona, Texas, Europe, and China. Its headquarters are in San Diego, California. TuSimple was established in 2015 with the goal of creating a completely autonomous (SAE Level 4) driving solution for long-haul heavy-duty trucks. Through its cutting-edge AI technology, which enables trucks to function almost continuously, drive safely autonomously, and consume 10%+ less fuel than humanly operated trucks, TuSimple seeks to disrupt the $4 trillion global truck freight sector. The creation of the first Autonomous Freight Network and the first completely autonomous, Driver Out semi-truck on open, public highways are examples of global accomplishments (AFN). You can find us at www.tusimple.com.

Source: Prnewswire