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Chinese Autonomous Truck Startup Raises $120 Million From UPS, Others

By Ye Zhanqi and Denise Jia / Sep 18, 2019 02:24 AM / Business & Tech

Photo: VCG

Photo: VCG

A Chinese self-driving truck startup attracted $120 million of funding from a group of investors including package logistics giant UPS.

TuSimple, based in San Diego and Beijing, said Tuesday that other investors in its Series D round of financing include Chinese private equity firm CDH Investments and Korean auto parts supplier Mando Corp.

TuSimple raised $95 million in a funding round in February led by Chinese internet giant Sina Corp. At that time, the company was valued at $1 billion. The new investment brings TuSimple’s total funding to $298 million.

The company said the new funds will be used to expand long-haul services for fleets and develop a commercial self-driving truck.

TuSimple is working on the validation of its self-driving truck solution with UPS and the U.S. Postal Service, aiming to transform the $800 billion U.S. trucking industry, the company said in a press release. Currently UPS and TuSimple conduct daily testing between Phoenix and Tucson.

The company has 50 trucks on the road worldwide serving 18 contracted customers.

Contact reporter Denise Jia (

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