United Parcel Services (UPS) says its venture capital arm, UPS Ventures, has made a minority investment in the San Diego-based autonomous driving company TuSimple.
Together, both companies are testing self-driving tractor trailers on a route in
Arizona to determine whether the vehicles can improve service and efficiency in the
UPS delivery network.
Chief Strategy and Transformation Officer at UPS, Scott Price says: “While fully autonomous, driverless vehicles still have development and regulatory work ahead, we are excited by the advances in braking and other technologies that companies like TuSimple are mastering.”
He adds: “All of these technologies offer significant safety and other benefits that will be realized long before the full vision of autonomous vehicles is brought to fruition – and UPS will be there, as a leader implementing these new technologies in our fleet.”
TuSimple’s Founder, President & CTO, Xiaodi Hou, says: “We are honored by UPS’s strategic investment and their vote of confidence in TuSimple, this proves their commitment to staying at the forefront of innovation. TuSimple is confident that it can accelerate bringing the first self-driving truck to market to increase road safety.”
“The UPS Ventures mission is to build collaborative relationships with early-stage
companies that provide capabilities and insights that accelerate technological
advancements within our network,” adds UPS Ventures Managing Partner, Todd Lewis.
Headquartered in Atlanta, UPS serves more than 220 countries and territories
To read an interview with Peter Harris, International Sustainability Director at UPS, follow the link below.