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 Amazon.com 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.