Self-Driving Truck and technology company, TuSimple (TSP) announced today that the company would explore certain transactions for its Asia-focused business. The announcement from the board came with full support from the companys management team, with the intention to explore certain transactions at a subsidiary level.
"TuSimple has a leading autonomous trucking technology and go-to-market position in China with opportunities to expand to other Asia-Pacific markets," said Xiaodi Hou, Co-Founder and CEO, TuSimple. "We believe this is the right time to explore opportunities to add high quality partners at a subsidiary level and highlight the value of our Asia-Pacific-focused businesses."
The company said the exploration process does not include plans for a divestiture or a similar transaction for any of its businesses or subsidiaries.
By Michael Elkins