Self-driving truck startup TuSimple Holdings Inc is aiming to raise about $1.3 billion by selling around 34 million shares at $35 to $39 each in its initial public offering (IPO) in the US.
The San Diego, California-based company is also targeting a valuation of over $8 billion.
The company will list on Nasdaq under the symbol “TSP”.
TuSimple, backed by United Parcel Service (UPS) and Volkswagen’s commercial trucking unit TRATON, is developing self-driving trucks with Navistar International Corp that are slated to start production in 2024.
TuSimple also launched a self-driving freight network partnership with UPS and Berkshire Hathaway Inc’s supply chain unit, McLane, in July.
According to TuSimple, a 2017 investment from Sun Dream Inc, an affiliate of Chinese technology firm Sina Corp, is being probed by the Committee on Foreign Investment in the United States.
Morgan Stanley, J.P.Morgan, and Citigroup are among the offering's underwriters.


SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil
Instagram Outage Disrupts Thousands of U.S. Users
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 



