As a startup launched in 2015 with operations in San Diego and Tucson, Arizona, TuSimple has a post-money valuation of USD 1.095 billion (aka unicorn status).
Autonomous driving truck. PHOTO: Credit to TuSimple
On April 25, Shanghai announced the first batch of artificial intelligence pilot application scenarios, and TuSimple was selected as the future solution provider for "AI+ transportation" application scenarios.
Together with Shanghai Lingang Science and Technology Innovation City Economic Development co., LTD and Shanghai Lingang Intelligent Network Automobile Research Centre co., LTD, TuSimple will carry out demonstration operation of autonomous trucks logistics distribution in Lingang main urban area, logistics park, Donghai bridge and other places.
Through the construction of this project, TuSimple applies the intelligent network integrated truck transport operation service to Lingang area and promotes the transformation of the logistics industry from labour-intensive to technology-intensive.
By connecting the intelligent network with self-driving trucks and connecting the logistics hub, a complete closed-loop network of trunk logistics can be formed to consolidate the foundation of intelligent logistics.
The whole chain of vehicles and logistics can be highly efficient, controllable and intelligent, so as to reduce the overall logistics cost, reduce the safety risk in the transportation process and improve transportation efficiency.
In April this year, Shanghai released the related work targets of 'the implementation plan for Shanghai to promote the structural adjustment of transportation (2018-2020) 'and 'the work plan for Shanghai to promote the development of sea-railway combined transport'.
TuSimple expects to promote the structural adjustment of Shanghai's transportation and the development of sea-rail intermodal transportation through self-driving trucks. Under the overall layout of "planning of integrated demonstration area of land, sea and air autonomous systems" in Shanghai Lingang area, relying on Lingang science and technology city, the platform advantages of Shanghai Lingang intelligent network automobile research center and the technical capacity of TuSimple, jointly promote the large-scale commercial demonstration project of new-type MTR combined transport based on intelligent network container trucks.
TuSimple's cofounder HOU Xiaodi said in an interview with Forbes that he wants to start making runs "driver out" next year, and he expects to raise more money over the next year.
The company focuses on the independent research and development of large cargo truck autonomous driving system and has set up research and development application centres in Beijing, Shanghai, Hebei, California and Arizona, with more than 400 employees. The company's main products are L4 class autonomous driving trucks.
According to TuSimple, The L4 level autonomous driving technology developed by the company takes the camera as the main sensor and integrates other sensors such as lidar and millimetre-wave radar. With the self-developed core algorithm, it can realize the core functions of automatic driving, such as environment perception, positioning and navigation, and decision control. TuSimple has realized pixel-level identification of the visual environment within 1000 meters on the perception technology.
According to the plan, TuSimple's self-developed L4 level (SAE standard) autonomous driving technology can realize the entire self-driving of freight trucks in the expressway freight transportation, and the container terminal transportation in the port and similar scenarios.
TuSimple has raised USD 178 million, including backers like Nvidia and ZP Capital to date. Sina, which is the operator of China’s biggest microblogging site Weibo, was one of TuSimple's earliest investors. Composite Capital, a Hong Kong-based investment firm and previous investor, also participated in this latest round. As a startup launched in 2015 with operations in San Diego and Tucson, Arizona, TuSimple has a post-money valuation of USD 1.095 billion (aka unicorn status).