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            [post_content] => Autonomous trucking company TuSimple has achieved unicorn status on Wall Street with a fresh funding round that values the start-up at $1 billion.

The company said Wednesday it raised $95 million in a series D funding led by Sina Corp. and Composite Capital, a Hong Kong-based investment firm, as it prepares to expand its testing of self-driving semis on highways in Arizona, New Mexico and Texas.

“By the end of 2020 or early 2021 we think we think we can take the driver out of the cab on trucks,” said Chuck Price, chief product officer of TuSimple.

San Diego-based TuSimple is developing technology to allow shipping companies to operate self-driving class 8 tractor-trailers, potentially eliminating the need for drivers, the biggest expense facing trucking firms today, especially in a tight labor market. On average, shipping firms spend $2 per mile hauling goods, a cost TuSimple believes it could cut by 30 percent by eliminating the driver with autonomous trucks.

The money will help TuSimple expand its fleet of 12 test trucks to more than 50 by June. The company is currently testing autonomous semis on routes between Phoenix and Dallas. ”

Read more: Self-driving tractor-trailer start-up TuSimple achieves unicorn status in funding round that values it at $1 billion
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                    [post_content] => Autonomous trucking company TuSimple has achieved unicorn status on Wall Street with a fresh funding round that values the start-up at $1 billion.

The company said Wednesday it raised $95 million in a series D funding led by Sina Corp. and Composite Capital, a Hong Kong-based investment firm, as it prepares to expand its testing of self-driving semis on highways in Arizona, New Mexico and Texas.

“By the end of 2020 or early 2021 we think we think we can take the driver out of the cab on trucks,” said Chuck Price, chief product officer of TuSimple.

San Diego-based TuSimple is developing technology to allow shipping companies to operate self-driving class 8 tractor-trailers, potentially eliminating the need for drivers, the biggest expense facing trucking firms today, especially in a tight labor market. On average, shipping firms spend $2 per mile hauling goods, a cost TuSimple believes it could cut by 30 percent by eliminating the driver with autonomous trucks.

The money will help TuSimple expand its fleet of 12 test trucks to more than 50 by June. The company is currently testing autonomous semis on routes between Phoenix and Dallas. ”

Read more: Self-driving tractor-trailer start-up TuSimple achieves unicorn status in funding round that values it at $1 billion
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            [post_content] => Autonomous trucking company TuSimple has achieved unicorn status on Wall Street with a fresh funding round that values the start-up at $1 billion.

The company said Wednesday it raised $95 million in a series D funding led by Sina Corp. and Composite Capital, a Hong Kong-based investment firm, as it prepares to expand its testing of self-driving semis on highways in Arizona, New Mexico and Texas.

“By the end of 2020 or early 2021 we think we think we can take the driver out of the cab on trucks,” said Chuck Price, chief product officer of TuSimple.

San Diego-based TuSimple is developing technology to allow shipping companies to operate self-driving class 8 tractor-trailers, potentially eliminating the need for drivers, the biggest expense facing trucking firms today, especially in a tight labor market. On average, shipping firms spend $2 per mile hauling goods, a cost TuSimple believes it could cut by 30 percent by eliminating the driver with autonomous trucks.

The money will help TuSimple expand its fleet of 12 test trucks to more than 50 by June. The company is currently testing autonomous semis on routes between Phoenix and Dallas. ”

Read more: Self-driving tractor-trailer start-up TuSimple achieves unicorn status in funding round that values it at $1 billion
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Self-driving tractor-trailer start-up TuSimple achieves unicorn status in funding round that values it at $1 billion

Autonomous trucking company TuSimple has achieved unicorn status on Wall Street with a fresh funding round that values the start-up at $1 billion.

The company said Wednesday it raised $95 million in a series D funding led by Sina Corp. and Composite Capital, a Hong Kong-based investment firm, as it prepares to expand its testing of self-driving semis on highways in Arizona, New Mexico and Texas.

“By the end of 2020 or early 2021 we think we think we can take the driver out of the cab on trucks,” said Chuck Price, chief product officer of TuSimple.

San Diego-based TuSimple is developing technology to allow shipping companies to operate self-driving class 8 tractor-trailers, potentially eliminating the need for drivers, the biggest expense facing trucking firms today, especially in a tight labor market. On average, shipping firms spend $2 per mile hauling goods, a cost TuSimple believes it could cut by 30 percent by eliminating the driver with autonomous trucks.

The money will help TuSimple expand its fleet of 12 test trucks to more than 50 by June. The company is currently testing autonomous semis on routes between Phoenix and Dallas. ”

Read more: Self-driving tractor-trailer start-up TuSimple achieves unicorn status in funding round that values it at $1 billion

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