Samreen Ahmad · · 1 min readAutonomous truck firm eyes $1b from selling China unit
TuSimple Holdings, a Nasdaq-listed autonomous truck startup, is eyeing the sale of its China business and raise up to US$1 billion from the deal, people with knowledge of the matter told Reuters.
The development comes after the California-headquartered startup in February entered into an agreement with the US government to limit its China unit’s access to key information over security-related issues. TuSimple plans to focus on its US operations after the deal.
The company, which currently runs 100 trucks in the US and China, raised more than US$1.35 billion after going public in April 2021.
See also: Meet the 100 top-funded startups and tech companies in China
Editing by Collin Furtado and Eileen C. Ang
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