Volkswagen Trucking Business Invests in Self-Driving Truck Developer TuSimple
September 23 2020 - 3:30AM
Dow Jones News
By Allison Prang
Volkswagen AG trucking subsidiary Traton Group will work with
automation startup TuSimple to develop self-driving trucks and will
take a stake in the technology company as part of their
agreement.
Traton said in announcing the deal on Wednesday it aims to begin
testing autonomous heavy-duty trucks on roads in countries
including Germany and Sweden, without providing a target date.
The agreement with Germany-based Traton marks TuSimple's first
move into Europe. It follows a similar agreement TuSimple struck in
July with Navistar International Corp. to jointly develop
self-driving trucks, with the U.S. truck manufacturer also taking a
minority stake in the startup.
Traton, whose truck brands include Scania AB and MAN SE, holds
about 17% of the shares in Navistar and is seeking to acquire the
Lisle, Ill.-based manufacturer.
Traton and TuSimple didn't disclose the size of the stake the
European manufacturer is taking in the company. TuSimple earlier
this year raised $215 million in an extended Series D funding
round, with investors including United Parcel Service Inc. through
its UPS Ventures investment arm.
Founded in 2015 and with offices in San Diego and in China,
TuSimple has a fleet of more than three-dozen trucks in commercial
service in the U.S. Southwest that use autonomous technology but
have a human operator behind the wheel. The company has said it
aims to pilot a completely self-driving service in 2021.
"Our partnership with [Traton] accelerates the introduction of
autonomous truck technology to new international markets," TuSimple
President Cheng Lu said.
The Traton-TuSimple agreement comes amid growing interest in
automation technology in transportation, which backers believe will
cut costs and improve efficiency in freight networks.
TuSimple rival Ike Robotics said earlier this month that it was
working with several operators, including Ryder System Inc. and
German logistics giant Deutsche Post AG, on installing truck
automation technology.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
September 23, 2020 03:15 ET (07:15 GMT)
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