NAV - TuSimple opens slightly above IPO pricing level

TuSimple Holdings (TSP) opens for trading at $40.15 after the IPO was priced at $40 per share. Shares have drifted up to $41.01 in early action for the self-driving truck startup. TuSimple describes itself as aiming to develop the world's most advanced self-driving technologies specifically designed to meet the unique demands of heavy-duty trucks. The company says that through the development of an industry leading autonomous driving system, purpose-built autonomous trucks with OEMs Navistar (NAV) and TRATON and the creation of the TuSimple Autonomous Freight Network it has become the partner of choice for shippers and carriers. Self-driving trucks runs are expected to be mainly on fixed routes without intersections or pedestrians. Tests for TuSimple are expected in 2023 and production in 2024. TuSimple could be rival in the future for Tesla (TSLA), Waymo (GOOG), Volvo (VOLAF) and Daimler (DDAIF) in the self-driving truck industry. Seeking Alpha author Michael McGrath

For further details see:

TuSimple opens slightly above IPO pricing level