Sunday, September 20th, 2020
Home » Shipping » Autonomous truck startup TuSimple now valued at $1 billion

Autonomous truck startup TuSimple now valued at $1 billion

Self-driving tractor-trailer start-up TuSimple achieves unicorn status in funding round that values it at $1 billion

PortandTerminal.com, February 23, 2019

Autonomous trucking firm TuSimple has raised $95 million to expand its fleet of self-driving big rigs and fund joint product development with truck manufacturers and equipment makers, the company said Wednesday in an article published by the Wall Street Journal. The latest round of funding values the start-up at $1 billion dollars.

TuSimple is developing technology aimed at making long-haul trucking cheaper and more efficient, in part by allowing semi-trucks to run beyond the 11-hour daily operating limit in place for human drivers.

The money raised will help the company expand its fleet of test vehicles and fund joint production programs with truck manufacturers.

Based in San Diego and with an engineering facility and truck depot in Tucson, Arizona, TuSimple has been hauling revenue-generating loads since last year. The company also has offices in China. In the United States, the company’s focus is solely on long-haul trucking whereas in China, the technology is used for drayage operations, hauling cargo at ports.

Copyright © 2019 PortandTerminal.com. All rights reserved. This material may not be published, broadcast, written or redistributed.

Check Also

Wooden sailing ship at sea. Sails. Rigging

The oldest working cargo ship in the world (1873)

PortandTerminal.com, September 18, 2020 HALIFAX, NOVA SCOTIA – The 82-foot cargo ship Nordlys — which …

Screen grab coast guard boat in storm

Wild Ride: Coast Guard boat is surfing in the mouth of the Duluth Canal (VIDEO)

PortandTerminal.com, September 18, 2020 DULUTH, MI – Check out the skill and agility of this …