TuSimple Holdings, Inc.

Stock ticker:
TSP

On August 1, 2022, before the market opened, The Wall Street Journal published an article titled, “Self-Driving Truck Accident Draws Attention to Safety at TuSimple,” highlighting an April 6, 2022 accident by an autonomously driven trucked equipped with TuSimple technology.

The WSJ article noted, “The accident, which regulators disclosed to the public in June after TuSimple filed a report on the incident, underscores concerns that the autonomous-trucking company is risking safety on public roads in a rush to deliver driverless trucks to market, according to independent analysts and more than a dozen of the company’s former employees.”

The Federal Motor Carrier Safety Administration, a Department of Transportation agency, launched a “safety compliance investigation” into TuSimple as noted in a May 26, 2022 letter to the company.

TuSimple has repeatedly blamed the April 6th accident on human error, however, autonomous-driving-system specialists have alleged fundamental problems with the company’s technology.

Shares of TuSimple Holdings, Inc. fell more than 9% in intraday trading on August 1, 2022.

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