TuSimple confirms plans to launch a fleet of robot trucks
Shares of the company – developer of an automatic driving system for trucks TuSimple Holdings Inc. (TSP) received a positive boost this week.
The company continues to develop an ambitious initiative to deploy a transport network. TuSimple Holdings confirmed its intention to launch a test program by the end of the year to test the fleet of uncrewed trucks for transporting goods on U.S. roads. For more than a month, a dozen trucks with an automatic driving system will operate on commercial routes, which should reduce the cost of drivers’ salaries by about 40%.
Bank of America called this an essential step towards autonomous cargo transportation while emphasizing that TuSimple has enough cash to continue working. Against this background, Bank of America analysts recommended buying TSP stock and set a target price of $ 60.
TuSimple robot trucks only in the third quarter of 2021. we drove more than 1.5 million km in autonomous mode, but with a driver in the cab – for “insurance” if the robot fails to cope with an unusual situation. TuSimple also reported almost 6.9 thousand orders for robot trucks and cooperation with a large transport services broker.
TuSimple shares fell sharply in the summer due to a possible downside game. In addition, problems with supply chains and a shortage of semiconductors forced TuSimple to reduce the pace of increasing the fleet of robot trucks and postpone entering the Chinese market until 2022.
However, TuSimple has not canceled its plans to commercialize one of the most promising technologies. The growing shortage of personnel with a simultaneous increase in demand for ground cargo transport can become strong drivers for TuSimple. At the auction on November 8, TuSimple’s stock was worth $39.54.
