Tusimple Stock Jumped 17% in Premarket Trading

TuSimple stock jumped 17% in premarket trading after the company announced that it became first to successfully operate driver out, fully autonomous semi-truck on open public roads.

TuSimple(Nasdaq: TSP), a global autonomous driving technology company, successfully completed the world's first fully autonomous semi-truck run on open public roads without a human in the vehicle and without human intervention. The run took place onDecember 22ndand requiredTuSimple'supfitted autonomous semi-truck to begin its journey from a large railyard inTucson, Arizona, and travel more than 80 miles on surface streets and highways at night, safely arriving at a high-volume distribution center in thePhoenixmetro area. Along the journey,TuSimple'sAutonomous Driving System (ADS) successfully navigated surface streets, traffic signals, on-ramps, off-ramps, emergency lane vehicles, and highway lane changes in open traffic while naturally interacting with other motorists.

The one-hour and 20-minute drive is the first time a class 8 autonomous truck has operated on open public roads without a human in the vehicle and without human intervention and is part of an ongoing test program that will continue into 2022. The test was performed in close collaboration with theArizona Department of Transportationand law enforcement. The autonomous driving test was 100% operated byTuSimple'sADS without a human on-board, without remote human control of the vehicle, and without traffic intervention.

"By achieving this momentous technical milestone, we demonstrated the advanced capabilities ofTuSimple'sautonomous driving system and the commercial maturity of our testing process, prioritizing safety and collaboration every step of the way. This test reinforces what we believe is our unique position at the forefront of autonomous trucking, delivering advanced driving technology at commercial scale," saidCheng Lu, President, and CEO,TuSimple. "This year, we were laser-focused on putting our technology through a rigorous test on open public roads under real-world conditions, and to see all our hard work and dedication come together is extremely rewarding."

To ensure public safety,TuSimpleworked closely with government regulators and law enforcement and implemented aTuSimplesurvey vehicle to look for anomalies operating over five miles ahead, an oversight vehicle capable of putting the autonomous truck in a minimal risk condition (MRC) trailing behind, and law enforcement vehicles following at a distance of 0.5 miles as an extra layer of safety precaution.

TuSimple's"Driver Out" pilot program is the culmination of 1.5 years of work to develop an L4 autonomous semi-truck with the level of redundancy, reliability, and consistency to safely take the driver out on public roads. This is a critical first step in scaling autonomous trucking operations on the TuSimple Autonomous Freight Network (AFN).

AboutTuSimple

TuSimpleis a global autonomous driving technology company, headquartered inSan Diego, California, with operations inArizona,Texas,Europe, andChina. Founded in 2015,TuSimpleis developing a commercial-ready, fully autonomous (SAE Level 4) driving solution for long-haul heavy-duty trucks.TuSimpleaims to transform the$4 trillionglobal truck freight industry through the company's leading AI technology, which makes it possible for trucks to see 1,000 meters away, operate nearly continuously, and reduce fuel consumption by 10%+ relative to manually driven trucks.