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News Jun 24, 2020 01:31 pm EqualOcean

Autonomous Truck Developer Tusimple Gained Another Five Road Test Licenses from Shanghai Government

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Sep 23, 2020 05:16 pm ·

Traton Group and TuSimple to Develop Autonomous Trucks

This cooperation combines a global OEM manufacturer and an autonomous driving technology company as TuSimple edges closer to becoming the world's first self-driving truck stock. Traton and TuSimple have launched a research and development plan to use Scania trucks to operate the first autonomous driving hub route between Södertälje and Jönköping in Sweden. As part of the cooperation between the two parties, the Chinese autonomous truck manufacturer will receive a strategic investment from Traton.  Matthias Gründler, CEO of Traton Group, said: "The global cooperation with TuSimple in the future is another step for the group to strive for its global ambitions. Providing customers with more valuable innovative future technologies is the core of our development strategy."  "Our cooperation with Traton Group will promote the acceleration of autonomous driving technology into new international markets. We look forward to the upcoming global cooperation between us," said Lu Cheng, President of TuSimple. "Transtop Group has a good reputation and the strategic investment from the firm is strong evidence of their confidence in our company's technologies and solutions." The R&D personnel of Traton Group and TuSimple are working closely to develop an autonomous driving system for trucks. Under specified driving conditions, these trucks can achieve fully automated driving without manual intervention and can be applied to all markets. The use of self-driving trucks will provide customers with huge advantages in long-distance freight, and improve safety and efficiency while reducing fuel consumption and operating costs.

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Aug 17, 2020 09:55 am ·

TuSimple Edges Closer to Becoming the World's First Self-Driving Truck Stock

TuSimple's choice of investment bank is Morgan Stanley, which will then identify three to four underwriters, with an estimated market capitalization of between USD 3.5 billion and USD 7 billion. It is expected to become the world's first listed L4 autonomous driving company.  Before the official IPO, TuSimple also launched an E round of financing with a pre-investment valuation of USD 2.2 billion. At present, the round has received USD 300 million TS (letter of intent), which are expected to be delivered in September this year, valuing the firm at USD 2.9 billion. In the ongoing E round of financing, SINA Corporation, which has participated in multiple rounds of TuSimple's financing before, has subscribed for USD 100 million in convertible bonds, of which USD 50 million has been received. In addition, Traton, a subsidiary of the Volkswagen Group and one of the world's largest commercial vehicle manufacturers, plans to invest USD 140 million in TuSimple, of which USD 60 million will be invested at a valuation of USD 1.2 billion, and of which USD 10 million has been paid. The remaining USD 80 million will be invested at a valuation of USD 1.76 billion (20% off the pre-E round valuation of USD 2.2 billion). Other than that, in order to support the IPO, the firm has recently appointed Lu Cheng, a Harvard graduate and KCA Capitals COO as the CFO. Mo Chen, CEO of the firm, revealed that an internal calculation has been made. For the business model of unmanned truck freight, it will take about USD 1 billion in upfront investment to become profitable.  Before the E round of financing, TuSimple raised total financing of more than USD 300 million; coupled with the ongoing E round of financing, its current total financing is approximately more than USD 600 million. There is still a shortfall of USD 1 billion. Therefore, TuSimple has rushed for the IPO to raise more funds to promote the large-scale commercialization of self-driving truck freight.

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Jul 2, 2020 11:22 am ·

TuSimple Launches World's First Autonomous Freight Network

Based in the US and China, autonomous truck company TuSimple has initiated the world's first Autonomous Freight Network (AFN) in the US. The network will roll out in stages, consisting of digitally mapped truck routes, strategically located terminals and an autonomous operations monitoring system. The three major US logistics service providers, UPS, Penske and US Xpress, will each work with the startup to bring the project to life over three phases.  The company plans to first begin service between the cities of Phoenix, Tucson, El Paso, Dallas, Houston and San Antonio, from this year to 2021. Phase 2 kicks off in 2022 and runs until 2023 when it plans to expand its autonomous service coast-to-coast with a Los Angeles-to-Jacksonville route. Coming into 2024, the plan is to roll out phase 3 and provide autonomous shipping services nationwide in a total of 48 states.  Up until now, TuSimple has provided services to shippers and third-party logistics in seven fixed routes for four cities in the country. The company also intends to finish establishing a logistics transportation center in Dallas so that it can better serve clients located in the Texas Triangle city group. With the long-term view of implementing safe and effective driverless freight services in both China and America, TuSimple is leading the roll out and operation management of the first commercial self-driving truck fleet at scale.    

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Jun 23, 2020 11:00 am ·

TuSimple: Start with the Low-Hanging Fruit

► Though the market size is relatively small, with an explicit application scene, an affordable technology, and a sound regulatory system, the autonomous truck is very likely to realize commercialization sooner than other self-driving vehicles. ► TuSimple aims to bring the most cost-effective autonomous truck solution to both Chinese and American shippers and logistics companies. ► The company’s backbone technology is a proprietary automotive-grade camera system co-developed with Sony Semiconductor, which unlike Waymo’s lidar-focus solutions, utilized customized HD cameras that are much cheaper than lidar. ► The dual-site deployment and the obsession with cost reduction put the company one step ahead of the commercialization process. A big opportunity in a small market IHS Automotive, the American automotive research firm, divides application scenarios for autonomous vehicles into four categories: last-mile delivery, autonomous trucks, fixed-route and Robotaxi. While the four businesses have the same core technology, they are very different in the commercialization process. Robotaxi has been the hottest in recent years. Many giant companies like Google, GM Cruise and Baidu are implementing their own Robotaxi fleets. Autonomous trucks, on the other hand, doesn’t share the same buoyancy. The once ambitious self-driving truck start-ups, including Otto and Starsky Robotics, were either acquired or declared bankruptcy. Even those who survived still don’t get as much support as Robotaxi operators do. Take for example Pony.ai and TuSimple, the two self-driving solution developers who both run their vehicles in both China and the US. Only the former has implemented Robotaxi, while the latter focuses on freight. While Pony.ai is still in the early rounds, its total funding exceeded TuSimple’s twice over. The vast gap could be the result of the dominant potential demand Robotaxi owns. According to Mobileye’s research, the market size of Robotaxi will be worth more than USD 16 billion by 2030, while the number by then will be USD 1,550 million for self-driving trucks, according to MarketsandMarkets.  But the size isn’t everything. While the self-driving taxi is expected to save operation companies 70%-80% of profit currently taken by the human drivers, according to WeRide’s research, in this stage, with the immature technology and stubbornly high R&D costs, the goal is not likely to be achieved soon.  Autonomous trucks, on the other hand, require easier technology and less costs. Since the trucks transport goods rather than humans, and run on highways mostly, they have lower bars on sensitivity and speed control, and thus cost way less than developing a self-driving passenger vehicle. Besides, according to the US Department of Labor, the median annual income for heavy truck drivers in the US is USD 42,480, surpassing the median annual income of USD 37,690 for all occupations in the nation. Two drivers are required in one truck during one trip. The autonomous truck can at least take one driver off the truck to save 50% of the expense.  Furthermore, fatigue driving problems still exist in freight companies. A report from the US Department of Transportation showed that, in 2016, fatal accidents related to heavy trucks in the US numbered 3,864, which is 11.2% of all vehicle fatalities during the year. Autonomous technology, however, will enable trucks to run safely for 24 hours nonstop, even in extreme weather, which can highly promote the efficiency and safety of freight while saving money.   The lower cost and tangible implementation have given the autonomous truck a great opportunity to achieve commercialization sooner than Robotaxis will. TuSimple intends to further speed up the process Founded in 2016, TuSimple, the Beijing and San Diego co-based autonomous driving company has been focusing on bringing the most cost-effective L4 autonomous driving solution for long-haul heavy trucks in both China and America. And it is leading on that track. Over the last five years, the company has secured a total of USD 298 million fundraising led by renowned capitals including Sina, Mando Corporation, CDH Investments and UPS, with a post-money valuation of over USD 1 billion.  In contrast with Tesla, which has again delayed its self-driving trucks’ time of delivery to 2021, TuSimple is the first and only to operate a fleet of autonomous heavy-duty semi-trailer trucks on pre-mapped shipping routes. It has provided door-to-door services to a total of more than 20 clients in the US, including UPS Express, Amazon and United States Postal Service (USPS). Three shipping terminals are implemented in Arizona, Tucson and Texas with three more under construction. The company is also running road tests in Fujian and Shanghai, China, even though the commercialization may come later due to regulatory restrictions. The Sina-backed company claimed that revenue reached USD 1 million per month in the second half of 2019. Still, it would only become profitable when the safety officers are no longer needed, and the company intends to go public at that time. The secret is the obsession for cost control One of the most significant reasons for TuSimple’s fast commercialization is its obsession with cost control. As known to all, lidar is an indispensable part of autonomous vehicles due to its excellent performance in ranging and resolution. It is the best solution for driverless cars to cope with complex road conditions. But the sensor, once exclusive to the military, also costs a considerable amount. The US lidar giant Velodyne sells its 64-channel lidar units for USD 80,000 each.  Faced with such a huge expense, TuSimple began to reflect on whether it is really necessary. And apparently, it’s not. Since the trucks spend 90% of operating hours on highways where they should face obstacle-free movement, the company realized that its truck doesn’t have to be so sensitive, but it has to see further than lidar because its long body requires a much longer safe braking distance. Unable to find a system on the market that fits its needs, the company leaders decided to create one by themselves. Partnered with Sony Semiconductor, TuSimple successfully produced its proprietary automotive-grade camera and vision system that can see 1000 meters away at night and in extreme weather, in May 2019. And most importantly, since the system is mostly based on HD cameras, it costs much less than lidar-oriented solutions. This integrated system started mass production since this April, jointly with ZF, the renowned German automotive supplier.  In addition, the company also did a good job on energy saving. A joint study by TuSimple and the University of California, San Diego shows that automated trucks can save up to 10% on fuel consumption with TuSimple’s self-driving system, and estimates that, if all medium-and-heavy-duty trucks in the US were equipped with the same system, USD 10 billion annual fuel cost would be saved. With a sound technology foundation, the company also benefited a lot from its duel-site operation strategy. While their cross-city trunk line shipping has already been commercialized in the US, they are also actively road testing in harbor roads and logistics parks in Shanghai,  to collect as much operation data from different road conditions as possible. The system is now refined by nearly 2000-hour and 30,000 miles of real-world road tests.  

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Mar 27, 2020 12:00 am · TuSimple

Tusimple and ZF will collaborate on mass production of driverless truck systems

Announcement: Click here
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Updated 17 hours ago ·

Xpeng Rolls Off Its 10,000th P7

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Oct 20, 2020 12:32 pm · https://www.laohu8.com/news/1147348014?lang=zh_cn&invite=3VB8VM

Didi Chuxing to Go Public in Hong Kong

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Oct 20, 2020 10:00 am · Tencent

Tesla to Export 'Made-in-China' Model 3 to Europe

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Oct 16, 2020 09:30 am ·

Chinese-made Tesla Model Y Price Expected to Drop

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