TuSimple Partners with Loadsmith for 350 Unit Reservation for SAE L4 Operation

Rhea-AI Summary

TuSimple (Nasdaq: TSP) announced a partnership with Loadsmith to integrate and scale its SAE Level 4 autonomous technology into Loadsmith's logistics operations. This collaboration includes an initial reservation of 350 autonomous trucks for 2024, aimed at addressing North America's driver shortage while enhancing safety and efficiency. TuSimple plans pay-per-mile freight operations by the end of 2023 in Arizona and the Texas Triangle, with over 11,500 unique mapped miles in its network.

Positive

• Partnership with Loadsmith for integration of SAE L4 autonomous technology.
• Initial reservation of 350 autonomous trucks planned for 2024.
• Plans to carry paid freight operations by the end of 2023 in key regions.

Negative

• None.

SAN DIEGO, March 29, 2022 /PRNewswire/ -- TuSimple (Nasdaq: TSP), a global self-driving technology company based in San Diego, California, today announced its partnership with Loadsmith, the leading third-party logistics capacity as a service platform bridging the gap between shippers and carriers, to adopt, integrate and scale TuSimple's SAE L4 autonomous technology into their operations.

The partnership is an important strategic component of Loadsmith's mission to address the driver shortage in North America, while focusing on delivering unparalleled safety, and efficiency.  Included within the agreement comes an initial reservation of 350 units of purpose-built SAE Level 4 autonomous trucks for operation on TuSimple's autonomous freight network in 2024.    

"TuSimple's innovations will allow us to provide state-of-the-art SAE L4 automation to customers operating along the rapidly advancing autonomous freight network," said Loadsmith CEO Brett Suma.  "Loadsmith prides itself on providing our customers with cutting-edge solutions that enhance on-time delivery with the lowest total cost of operation, and TuSimple's proven driver-out capabilities provides the prime path for us to do so."

"Loadsmith is an ideal partner to adopt, integrate and scale our autonomous trucking technology into their operations," said Xiaodi Hou, Co-Founder and CEO, TuSimple. "This new partnership further validates the appetite for SAE L4 technologies alongside the TuSimple autonomous freight network fostering the expedited commercialization of safe, efficient, and sustainable transportation of freight throughout the United States." 

TuSimple demonstrated its leadership with the industry's first driver-out (no human intervention or operator) runs in 2021 which the company plans to continue through 2022 as it prepares for full commercialization. TuSimple's "driver out" pilot program is the product of a year and a half of work to develop an L4 autonomous semi-truck with the level of redundancy, reliability, consistency, and safety necessary to remove the driver from the truck.

By the end of 2023, TuSimple plans to carry paid freight operations in Arizona and the "Texas Triangle," one of the country's busiest freight regions. Driver-out runs have been critical in enabling scaling of autonomous trucking operations on the TuSimple Autonomous Freight Network.  To date, TuSimple has over 11,500 unique mapped miles in its Autonomous Freight Network and plans to continue to scale its operations to support its distribution partners.

About TuSimple
TuSimple is a global autonomous driving technology company headquartered in San Diego, California, with operations in Arizona, Texas, Europe, and China. Founded in 2015, TuSimple is developing a commercial-ready, fully autonomous (SAE Level 4) driving solution for long-haul heavy-duty trucks. TuSimple aims to transform the $4 trillion global truck freight industry through the company's leading AI technology, which makes it possible for trucks to drive safely autonomously, operate nearly continuously, and reduce fuel consumption by 10%+ relative to manually driven trucks.  Global achievements include the world's first fully autonomous, 'driver-out' semi-truck run on open public roads, and development of the world's first Autonomous Freight Network (AFN).  Visit us at www.tusimple.com.

About Loadsmith
Loadsmith is a leading third-party logistics platform headquartered in Denver, Colorado, with additional locations in Chattanooga, Tennessee and Phoenix, Arizona. Founded in 2019, Loadsmith was built by industry professionals who have worked with America's greatest carriers, large and small to deliver top of the line business management and transportation services. Using the latest in transportation technology, Loadsmith creates a seamless transportation logistics experience, providing innovative solutions to our customers and partners.

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SOURCE TuSimple Holdings, Inc.

FAQ

What is the partnership between TuSimple and Loadsmith about?

TuSimple partnered with Loadsmith to integrate its SAE Level 4 autonomous technology into Loadsmith's logistics operations.

How many autonomous trucks has TuSimple reserved for Loadsmith?

TuSimple has an initial reservation of 350 SAE Level 4 autonomous trucks for 2024.

What is the significance of the driver-out technology for TuSimple?

The driver-out technology allows TuSimple to conduct fully autonomous runs without human intervention, enhancing scalability.

When does TuSimple plan to start paid freight operations?

TuSimple aims to start paid freight operations by the end of 2023.

How many miles has TuSimple mapped in its Autonomous Freight Network?

TuSimple has over 11,500 unique mapped miles in its Autonomous Freight Network.