TSP TuSimple Holdings Inc

SHANGHAI, June 15, 2023 /PRNewswire/ -- TuSimple Holdings, Inc ("TuSimple") (Nasdaq: TSP), a global autonomous driving technology company, today announced it has successfully completed China's first fully autonomous semi-truck run on open public roads without a human in the vehicle and without human intervention.

The Driver Out run was conducted on the designated public roads approved by the Shanghai government, including Yangshan Deep-water Port Logistics Park and Donghai Bridge. Over the course of approximately 62 kilometers, TuSimple China's autonomous truck demonstrated its capability to navigate complex road and weather conditions in both urban and highway environments within the port area. This included traffic signals, on-ramps, off-ramps, lane changes, emergency lane vehicles, partial lane closures, fog, and crosswinds.

The Driver Out run was operated by TuSimple China's Autonomous Driving System without a human on-board, without remote human control of the vehicle, and without traffic intervention. In order to ensure public safety, the TuSimple China team worked closely with government regulators and law enforcement and implemented a safety vehicle to ensure safety during the run.

The Driver Out program in China represents more than two years of intense development, demonstrating TuSimple's commitment to developing an autonomous driving system that fulfills the SAE Level 4 requirements, with a strong emphasis on redundancy, reliability, and stability to enable safe and fully driverless operations on open roads.

"Being the first to conduct a Driver Out run in China is a significant milestone," said Cheng Lu, President and CEO of TuSimple. "Following on from our successful Driver Out run in the United States in 2021, this accomplishment marks another pivotal breakthrough for TuSimple and further underscores our leadership in the autonomous driving industry."

A video of the fully autonomous drive can be found here.

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 runs on open public roads in the U.S. and China, 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 – ryan.amerman@tusimple.ai

TuSimple Media Relations

pr@tusimple.ai

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SOURCE TuSimple Holdings, Inc.