TuSimple Holdings

TuSimple Holdings, Inc. engages in the operation and development of autonomous trucks. It develops autonomous technology specifically designed for semi-trucks, which build the autonomous freight network in partnership with shippers, carriers, railroads, freight brokers, fleet asset owners, and truck hardware partners. The company was founded by Mo Chen and Xiao Di Hou in 2015 and is headquartered in San Diego, CA.

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TuSimple Holdings, Inc. engages in the operation and development of autonomous trucks. It develops autonomous technology specifically designed for semi-trucks, which build the autonomous freight network in partnership with shippers, carriers, railroads, freight brokers, fleet asset owners, and truck hardware partners. It operates through the USA and Asia Pacific geographical segments. The company was founded by Mo Chen and Xiao Di Hou in September 2015 and is headquartered in San Diego, CA.

TuSimple, the once high-flying autonomous trucks company that went public in 2021, is restructuring and laying off about 30% of its U.S. workforce as it works to preserve cash and stay in business.

TuSimple to lay off 30% of U.S workforce, keep China business

Autonomous trucking software developer TuSimple is cutting 300 more U.S. jobs — 30% of its global workforce. But it will keep its China operations, reversing a plan to sell or spin them off.

TuSimple cuts 300 more US jobs, will keep China operations

TuSimple (NASDAQ: TSP ) layoffs are coming for employees of the American autonomous trucking company as it plans major job cuts. The TuSimple layoffs will see the California-based company cut 300 jobs as part of a larger restructuring plan.

TuSimple Layoffs 2023: What to Know About the Latest TSP Job Cuts

Autonomous trucking company TuSimple Holdings Inc. TSP, +31.96% announced Thursday that its board of directors has approved an “additional restructuring plan” that will mean the elimination of 300 jobs, or about 30% of the company's workforce. After the layoffs, the company expects to have about 750 full-time-equivalent employees, TuSimple said in a morning filing with the Securities and Exchange Commission.

TuSimple to cut 30% of jobs, face Nasdaq panel in June over delisting notice

TuSimple Holdings Inc said on Thursday that it will restructure its U.S. operations and reduce headcount by 30% as it looks to preserve its balance sheet.

TuSimple to restructure US business, lay off 30% staff

Aligning capital spend with overall market conditions and pace of industry readiness Reorganization of U.S. operations and a reduction in force to focus development efforts No longer seeking strategic alternatives for Asia Pacific business SAN DIEGO , May 18, 2023 /PRNewswire/ -- TuSimple (Nasdaq: TSP), a global autonomous driving technology company, announced a restructuring plan for its U.S. operations that is intended to enable the company to continue maturing its technology while preserving the company's balance sheet. The company also announced it is no longer seeking strategic alternatives for its Asia Pacific subsidiaries.

TuSimple Holdings Announces Restructuring of U.S. Operations and Provides Update on Asia Pacific Business

TuSimple was warned that it was at risk of getting delisted from the Nasdaq as of May 15. However, it remains listed for now.

Why TuSimple Stock Rocketed 59% Higher Today

Autonomous trucking company TuSimple's stock shot up 28% Monday after the company narrowly dodged a delisting from the Nasdaq stock exchange. TuSimple's stock closed at $1.06 per share.

TuSimple gets temporary reprieve from Nasdaq delisting

TuSimple shares will vanish from the Nasdaq on Monday. The one-time leader in autonomous trucking software failed to file two corporate financial reports for 2022 on time.

TuSimple stock delisted from Nasdaq due to unfiled financial reports

It wasn't that long ago that self-driving trucks company TuSimple was on a tear — raising funds, locking in partnerships and hitting some development milestones that seemed to push to it to the front of the AV pack.

TuSimple continues its slide into the ether with new delisting warning

TuSimple hasn't filed its last quarterly and annual report with the SEC yet. The company has now received a notice of delisting.

Why TuSimple Stock Plunged Below $1 Today

TuSimple Holdings Inc said on Thursday it had received a delisting notice from the Nasdaq for failing to file its quarterly report on time, sending its shares tumbling by about 20% in early trading.

TuSimple gets Nasdaq delisting notice for failing to file quarterly report

SAN DIEGO , May 11, 2023 /PRNewswire/ -- TuSimple (Nasdaq: TSP) today announced that on May 5, 2023, TuSimple Holdings Inc. (the "Company") received a notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") indicating that, as a result of the Company not having timely filed its Quarterly Report on Form 10-Q for the period ended September 30, 2022 (the "Form 10-Q") and its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the "Form 10-K"), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule") and Nasdaq has determined to deny the Company's request for continued listing on Nasdaq. The Notice indicated that unless the Company appeals the delisting determination, which it intends to do, trading of the Company's common stock will be suspended at the opening of business on May 15, 2023.

TuSimple Receives Delisting Notice from Nasdaq and Announces Appointment of New Auditor

The heavy selling pressure might have exhausted for TuSimple (TSP) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

After Plunging -18.59% in 4 Weeks, Here's Why the Trend Might Reverse for TuSimple (TSP)

SAN DIEGO , April 11, 2023 /PRNewswire/ -- TuSimple (Nasdaq:TSP), a global autonomous driving technology company, today announced the results of a safety audit performed by TÜV SÜD, a world-leading certification body for safety and security in the autonomous vehicle industry. Within the report, it states TuSimple's policies, processes and procedures for test driver selection, training and oversight process meet the guidelines and requirements of industry best practices.

Leading Independent Auditor "Greenlights" TuSimple Autonomous Vehicle Testing and Safety Processes

Automotive-grade domain controller unlocks next generation, fully-integrated Advanced Driver-Assistance Systems (ADAS) and L4 autonomous solutions Innovation reflects industry shift toward centralized computational platforms in vehicles Production units expected in Q4 2023 SAN DIEGO , April 4, 2023 /PRNewswire/ -- TuSimple (Nasdaq: TSP), a global autonomous driving technology leader, today introduced its proprietary, high-performance central compute unit – the TuSimple Domain Controller (TDC). The TDC will serve as an autonomous truck's central computational unit, incorporating sensor inputs, high performance computing, integrated vehicle control unit (VCU), and autonomous software to enable advanced autonomous driving solutions.

TuSimple brings to market proprietary high-performance autonomous domain controller enabling a full suite of ADAS and L4 autonomous solutions

TUCSON, Ariz. — Cheng Lu mostly watched from the sidelines for seven months as autonomous trucking startup TuSimple nearly imploded from the pressure of internal politics and external investigations.

Exclusive: TuSimple needs to win markets, customers as it stabilizes

TUCSON, Ariz. — TuSimple Holdings needs closure on a raft of investigations before it can reclaim technology leadership in the nascent autonomous trucking industry.

With $1B in the bank, reputationally dinged TuSimple looks ahead

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Cruise Origin rolls into Austin, WeRide makes its IPO move and TuSimple stirs up more drama

TuSimple trucks have recorded more than 10 million cumulative miles through testing, research and freight delivery This latest milestone is one of many industry firsts for the autonomous driving technology company TuSimple has recorded only one at-fault incident in its 10 million miles, which is below the average yearly accidents for a traditional truck fleet according to a 2022 Fleet Safety Study SAN DIEGO , March 16, 2023 /PRNewswire/ -- TuSimple (Nasdaq:TSP), a global autonomous driving technology company, announced today its trucks have driven more than 10 million cumulative miles through testing, research and freight delivery. "This is an incredible achievement and one that we do not take lightly," said Cheng Lu, President and CEO of TuSimple.

TuSimple Trucks Cruise Past the 10 Million Mile Mark

TuSimple co-founder Xiaodi Hou claims his forced resignation from the autonomous trucking software startup came in retaliation for refusing to support the compensation package for Cheng Lu, the CEO he pushed out a year ago but who was rehired in November. In a LinkedIn post, Hou claimed current and ex-employees of the autonomous trucking startup sought him.

Ousted TuSimple co-founder says frustrated employees came to him

SAN DIEGO , March 15, 2023 /PRNewswire/ -- TuSimple Holdings Inc. (Nasdaq: TSP) ("TuSimple" or the "Company"), a global autonomous driving technology company, today announced the appointment of J. Tyler McGaughey and Zhen Tao to its Board of Directors as independent directors.

TuSimple Appoints Two Additional Independent Directors to its Board

TuSimple co-founder Xiaodi Hou has refuted allegations from senior leadership that he was trying to poach staff for his new company.

TuSimple co-founder blames exit on CEO pay and autonomy downgrade

TuSimple's co-founder, Xiaodi Hou, resigned from the company's board of directors last week amid an internal investigation which sought to verify claims that Hou approached TuSimple employees about leaving the company to join his new venture, per an SEC filing.

TuSimple co-founder resigns, accused of poaching staff for new venture

SAN DIEGO , March 9, 2023 /PRNewswire/ -- TuSimple (Nasdaq: TSP) today announced that TuSimple Holdings Inc. (the "Company") was unable to timely file its Annual Report on Form 10-K for the fiscal year ended December 30, 2022 (the "Form 10-K") by the prescribed due date because the Company requires additional time to identify and select new principal accountants who will complete the review and audit of the Company's financial statements. Based on an extension previously received from Nasdaq described below, the Company currently has until May 15, 2023 to file its Form 10-Q for the quarter ended September 30, 2022.

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