FAST NEWS: TuSimple And Peers Urge California to Allow Automated Trucks

The latest: Hou Xiaodi, The CEO of autonomous truck company TuSimple Holdings Inc. (TSP.US), along with senior executives and chamber of commerce leaders, has sent an open letter to California Governor Gavin Newsom calling for the opening of California’s roads to self-driving trucks. Looking up: The joint letter cited a study concluding that deployment of the technology in California could bring $6.5 billion in economic activity to the state, while leading to greater efficiency in the logistics supply chain and allowing consumers and businesses to enjoy the results. Take Note: The California…

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FAST NEWS: TuSimple Announces Management Changes In Preparation For Commercialization

The latest: Autonomous truck company TuSimple Holdings Inc. (TSP.US) announced Tuesday that Chief Financial Officer Patrick Dillon will leave the group to pursue other opportunities. Eric Tapia, its global controller and principal accounting officer, will temporarily take on the role of the while the company carries out a search for a new CFO. In addition, the company has added two new management positions, as Ersin Yumer will be promoted to executive vice president of operations and Lei Wang will be promoted to executive vice president of technology. Looking up: TuSimple is reconfirming it…

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EHang’s Order Book Takes Flight as Cash Pile Glides to Earth

Autonomous air vehicle maker announces major new pre-order from Indonesia and intent to form joint venture in Thailand Key Takeaways: EHang has announced a major new deal to sell 100 of its autonomous air vehicles to an Indonesian buyer, doubling its order book for this year Company is slashing expenses as its cash fell to 237 million yuan at the end of March from 480 million yuan a year earlier By Doug Young A look at the latest earnings report from EHang Holdings Ltd. (HANG.US) appears to show a company…

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FAST NEWS: TuSimple’s Quarterly Loss Narrows Sharply, Beating Expectations

The latest: Autonomous truck company TuSimple Holdings Inc. (TSP.US) said it recorded a $112 million loss in the first quarter of the year, narrowing by more than half from a $385 million loss a year earlier, according to its latest quarterly report released on Tuesday. Looking up: The company’s loss per share was $0.50 for the period, which beat the average estimate for a $0.57 loss forecast by six Wall Street analysts, according to Zacks Investment Research. Take Note: The company reported first-quarter revenue of $2.26 million, up 140% from…

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TuSimple Looks to Decouple From China. Others to Follow?

Autonomous truck technology company is reportedly looking to sell its China business for about $1 billion Key Takeaways: Autonomous truck company TuSimple is reportedly looking to spin off its China business, leaving its more advanced U.S. business as its main asset Such a spinoff could provide upside for company’s stock by significantly reducing U.S. national security concerns By Doug Young Spring may finally be coming for U.S.-China stocks, following a nearly yearlong winter, with the latest signals that Beijing and Washington securities regulators are moving closer to an agreement that…

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TuSimple Paves the Way for Its Truck Technology Commercialization

Company reaches settlement with U.S. national security regulator, but spooks investors with elevation of its co-founder CTO to chairman and CEO positions Key Takeaways: TuSimple announced that co-founder and CTO Hou Xiaodi will take over as the company’s chairman and CEO Company’s shares lost two-thirds of their value in the two days after the announcement, closing at a post-IPO low By Doug Young TuSimple Holdings Inc. (TSP.US) is saying two major new developments are paving the way for the long-awaited commercialization of its autonomous truck driving technology. But investors don’t…

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Successful Test Puts TuSimple in Fully Autonomous Driver’s Seat

Company completes what it calls the first fully automated heavy truck driving test on real roads using self-developed system Key takeaways: TuSimple says it has completed the world’s first fully automated test of a self-driving heavy truck JPMorgan sees the company’s success as a major milestone, but has given it a “hold” rating By Fai Pui Three days before the New Year, TuSimple Holdings Inc. (TSP.US) uploaded a 1-hour, 23-minute video of a heavy truck departing from a railroad near the U.S. city of Tucson, Arizona at night. The footage…

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Trucking Specialist TuSimple’s Latest Report Is Hardly Simple

Second-quarter results show company in rapid expansion mode, and increasingly placing its bets on U.S. market for self-driving trucks Key points: TuSimple’s recent hiring spree and growing stable of major trucking partners show its autonomous driving technology is moving closer to commercialization Company’s highlighting of U.S. developments and muted discussion on China show it is rapidly moving its focus to the U.S. By Doug Young On the surface at least, autonomous truck driving specialist TuSimple Holdings Inc’.s (TSP.US) latest earnings report looks a lot like its name: quite simple. That…

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Invesco, Fidelity Hitch a Ride With Full Truck Alliance’s Supersized IPO

Trucking services leader boosts fundraising target to $1.8 billion, which could become the largest New York listing by a Chinese company this year Key points: Full Truck Alliance is well-positioned to consolidate its leading position in China’s emerging trucking services market The company’s sharp boosting of its IPO fundraising target reflects investor confidence in its strong growth and profit potential By Doug Young When it comes to big money, there’s lots to be made on China’s roads – specifically in trucking services. That’s the main message coming from Full Truck…

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Autonomous Truck Startup TuSimple Navigates Difficult Terrain Between U.S. and China

Company’s bumpy New York trading debut reflects investor indecision as it becomes world’s first autonomous driving technology firm to list Key Takeaways: TuSimple’s biggest strengths are its strong business partners and early arrival to the relatively simple long-haul truck segment of the autonomous driving sector The company’s biggest vulnerabilities are its China ties, as well as competition from rivals backed by giants like Amazon, Alphabet and Baidu By Doug Young Life is anything but simple these days for TuSimple Holdings Inc. (Nasdaq: TSP), the newly listed autonomous truck technology firm…

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