STARTUP PROFILE

TuSimple

Updated: 04/2021

TuSimple

China / Beijing , China

Website

IPO 04/2021

Unicorn

Pitch

TuSimple aims to become profitable by revving up mass production of self-driving trucks and launching world’s first freight version of Waymo One by 2024.

Why

Trucking accidents

74% of all fatal passenger vehicle accidents in the US involve a large truck.

High labor costs

In the US, labor costs make up over 43% of truck freight cost per mile.

Shortage of drivers

The truck driver shortage in the US is expected to reach 160,000 by 2028.

Market

$4tn

Projected total revenue by 2025 for major road haulage markets including North America and China, based on CAGR of 5.5% from 2019 to 2025: Grand View Research.

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