UPS Takes Minority Stake in Self-Driving Truck Startup TuSimple
AUGUST 15, 2019
TuSimple, an autonomous trucking company, has been conducting test drives for UPS between the Arizona cities of Phoenix and Tucson since May. Now the corporate venture arm of the global package delivery giant says it has taken a minority stake in the San Diego startup, which believes its technology can reduce the costs of shipping goods via tractor-trailer by 30 percent. Financial terms of the deal, announced Thursday, weren’t disclosed.