TuSimple, a self-driving truck startup that splits operations between the U.S. and China, raised an additional $120 million from investors
TuSimple has lined up investment from companies including UPS, Sina Corp., South Korea's Mando and CDH Investment of Beijing in its latest round. to fund R&D and continue expanding its fleet of AI-enabled 18-wheelers.
By year-end, TuSimple will have 50 semi-trucks hauling loads for U.S. customers from its engineering base in Tuscon, Arizona, and it hopes to double that in 2020. In addition to funding the refinement of its software, hardware and sensors that enable its trucks to handle highway driving, some of the new funds will go for “joint development projects” with suppliers it’s partnered with, Lu said, without elaborating.
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