UPS buys stake in TuSimple, testing self-driving delivery trucks in Arizona

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UPS buys stake in TuSimple, testing self-driving delivery trucks in Arizona

On Thursday, the 15th of August 2019, the world’s largest package delivery company, United Parcel Service, shortly dubbed as UBS, headquartered in Atlanta, Georgia, had issued a statement saying that the company had purchased a minority stake in self-driving start-up TuSimple, while it has been testing the self-driving start-up’s autonomous delivery trucks since May at a busy highway in Arizona.

Underscoring a rapid expansion of self-driving technology in commercial vehicles rather than autonomous taxis, several analysts were quoted saying following UPS’s Thursday’s (August 15th) statement that the investment of UPS ventures over a small start-up, UPS’s venture capital wing, had been pointing towards a quicker-than-anticipated growth in self-driving delivery services, as Inc., world’s largest e-commerce retailer had been increasing its bets on self-driving commercial vehicles alongside Robo-run warehouses.

Adding that UPS would be applying TuSimple’s autonomous driving features likes of lane departure, sensor technology alongside advanced braking in its own delivery fleet in a near-term, a managing partner at United Parcel Service Inc., Todd Lewis said, “From the regulatory perspective there is a long way to go.

But the technology has a ton of implications today. ” TuSimple, the San Diego-based self-driving start-up had told earlier in February that it had raised a lump-sum of $95 billion, valuing the company at $1 billion, nonetheless, while being asked neither UPS nor TuSimple disclosed the financial terms of latest UPS deal.