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TuSimple to ‘Explore Certain Transactions’ at Subsidiary Level -Breaking

by Mike Robinson

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© Reuters. TuSimple (TSP to ‘Explore Some Transactions’ at Subsidiary level

Today, TuSimple (TSP), a self-driving truck and tech company announced that it would be exploring transactions to support its Asia-focused business. With full support of the management team of the company, the announcement was made by the board. The intention is to investigate certain transactions at a sub-level.

“TuSimple is a leader in autonomous trucking technology, with a go-to-market position for China, and the potential to expand into other Asia-Pacific countries,” stated Xiaodi Hou (Co-Founder, CEO), TuSimple. We believe now is the best time to look for partners to expand our Asia-Pacific businesses and add quality to the subsidiary.

According to the company’s statement, it is not planning on a divestiture of similar transactions or any other type of transaction in its exploration process.

By Michael Elkins

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