TuSimple shifts to Asia Pacific amid Nasdaq delisting

TuSimple shifts to Asia Pacific amid Nasdaq delisting

TuSimple shifts to Asia Pacific in the middle of Nasdaq delisting. Credit: TuSimple

Self-driving truck designer TuSimple is suspending its company in the United States and moving its focus to the Asia Pacific markets, particularly China, Japan, and Australia, wishing to advertise and make money from its self-governing driving innovations. President Lu Cheng mentioned a fully grown regional supply chain and strong regulative assistance as factors. Another executive informed 36Kr on Monday that its China operation, with a group of 600 individuals, has actually protected 2 pilot offers for establishing assisted driving software application. These remarks were made 2 days after TuSimple, a San Diego, California-based start-up with a Chinese background, stated on Jan. 17 that it would delist from Nasdaq, most likely on Feb. 7, following a statement last month to cut 75% of its staff members in the United States. The retreat from the United States is a fallout of a federal government examination started by the United States Committee on Foreign Investment in late 2022 about whether the business shared copyrights established in the United States with a Chinese business. TuSimple shares closed at $0.44 on Monday, compared to its launching rate of $40.[[South China Morning Post 36Kr, in Chinese]


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