Self-driving truck unicorn TuSimple to sell China business: report

Self-driving truck unicorn TuSimple to sell China business: report

Trucking start-up TuSimple Holdings Inc. is looking to sell its China business for up to $1 billion in hopes of reducing regulatory risk and focusing on its US operations, Reuters reported on Thursday, citing people familiar with the matter. The Nasdaq-listed startup has approached potential buyers, including private equity firm Boyu Capital, days after the company reached an agreement with US authorities to restrict key information from its China unit. Founded by two Chinese entrepreneurs and backed by Weibo parent company Sina, TuSimple operates a testing fleet of 100 autonomous trucks in China and the US. [Reuters]


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