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UPS said Thursday it has taken a minority stake in self-driving truck startup TuSimple just months after the two companies began testing the use of autonomous trucks in Arizona.
The size of minority investment, which was made by the company’s venture arm UPS Ventures, was not disclosed. The investment and the testing comes as UPS looks for new ways to remain competitive, cut costs and boost its bottom line.
TuSimple - Operations - San - Diego - Tucson
TuSimple, which launched in 2015 and has operations in San Diego and Tucson, Arizona, believes it can deliver. The startup says it can cut average purchased transportation costs by 30%.
TuSimple, which is backed by Nvidia, ZP Capital and Sina Corp., is working on a “full-stack solution,” a wonky industry term that means developing and bringing together all of the technological pieces required for autonomous driving. TuSimple is developing a Level 4 system, a designation by the SAE that means the vehicle takes over all of the driving in certain conditions.
Piece - TuSimple - Approach - Perception - Solution
An important piece of TuSimple’s approach is its camera-centric perception solution. TuSimple’s camera-based system has a vision range of 1,000 meters, the company says.
The days of when highways will be filled with autonomous trucks are years away. But UPS believes it’s worth jumping in at an early stage to take advantage of some of the automated driving such as advanced braking technology that TuSimple can offer today.
UPS - Technologies
“UPS is committed to developing and deploying technologies that enable us...
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