Le Lézard
Classified in: Transportation, Science and technology
Subject: PDT

TuSimple Among First to Receive Fully Driverless Test License in China

SHANGHAI, June 8, 2023 /PRNewswire/ -- TuSimple Holdings, Inc. ("TuSimple") (Nasdaq: TSP), a global autonomous driving technology company, today announced it has been awarded a fully driverless test license by the Pudong New Area of Shanghai in China. TuSimple is among the first batch of companies to be awarded, thus enabling the Company to conduct SAE Level 4 fully autonomous Driver Out testing in the designated test areas of Yangshan Deep-water Port and Donghai Bridge. Shanghai is also set to become the first city in China to pass legislation to allow Level 4 fully driverless testing of autonomous trucks.

In February 2023, Shanghai officially launched and implemented the "Implementation Rules for Promoting the Innovation and Application of Fully Driverless Intelligent Connected Vehicles", which is the first local legislation in China focused on the innovation and application of fully driverless intelligent and connected vehicles. It provides a legal foundation and institutional support for fully driverless intelligent connected vehicles to carry out various innovation and application activities such as on-road testing, demonstrations, and commercial operations in Lingang New Area.

The process of obtaining this fully driverless license included a series of meticulous technical validation tests, including closed-area scenario testing, system simulation testing, cybersecurity testing, and open-road testing over thousands of kilometers without human intervention. Safety was a key component in the validation tests, encompassing comprehensive safety management systems, emergency response plans, and other measures to help ensure the safety, dependability, and compliance of the autonomous driving system.

In 2018, TuSimple China, a subsidiary of TuSimple, commenced autonomous testing activities in Lingang New Area of Shanghai. As of June 2023, TuSimple China has accumulated test mileage of over 600,000 kilometers and achieved zero incidents and road violations. This fully driverless license in China will enable TuSimple to build upon its achievement in the United States where it completed the world's first fully autonomous semi-truck run on public roads without any human intervention.

"We are very honored to receive the first batch of Level 4 fully driverless autonomous driving test licenses in China," said Cheng Lu, President and CEO of TuSimple. "This is a validation of TuSimple's autonomous driving technology and safety standards and will also accelerate the commercialization of autonomous truck technology in the Chinese market."

About TuSimple

TuSimple is a global autonomous driving technology company headquartered in San Diego, California, with operations in the United States and Asia. 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.

Forward-Looking Statements

This press release contains forward-looking statements. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties, which may cause results to differ materially from those indicated by these forward-looking statements. Many important factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to, autonomous driving being an emerging technology, the development of the Company's technologies and products, the Company's limited operating history in a new market, the regulations governing autonomous vehicles, changes in the Company's board of directors and senior management, the Company's dependence on its senior management team, reliance on third-party suppliers, potential product liability or warranty claims, the protection of the Company's intellectual property, securities class action litigation, the Company's ability to regain compliance with Nasdaq listing standards, and government or regulatory policies, inquiries and actions. Moreover, the Company operates in a competitive and rapidly changing environment, and new risks may emerge from time to time. The foregoing list of factors is not exhaustive.

You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption "Risk Factors" in our most recent annual report on Form 10-K, filed with the SEC on February 24, 2022, and the Company's other filings with the SEC. These SEC filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations.

TuSimple Investor Relations
Ryan Amerman  ([email protected])
TuSimple Media Relations
[email protected]

SOURCE TuSimple Holdings, Inc.

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