Thursday, December 3, 2020

TuSimple Takes $350M

San Diego-based TuSimple, which is developing camera and vision systems for use in self driving trucks, has reportedly raised $350M. The funding was led by VectoIQ, and also included Goodyear, Union Pacific, CN Rail, U.S. Xpress, Kroger, Traton Group and Navistar. TuSimple has been developing systems that use CMOS imaging sensors for self driving truk fleets. VectoIQ is a public acquisition company (SPAC), which acquired self driving truck maker Nikola back in March in a reverse acquisition, where VectoIQ changed its stock symbol to NKLA. VectoIQ was formed by former General Motors Vice Chairman Steve Girsky.