China-Linked Self-Driving Startup TuSimple to Delist in U.S.

(Nikkei Asia) — TuSimple Inc., a U.S.-based developer of self-driving truck technology with Chinese ties, has applied to delist from Nasdaq, with its market value dwindling to around 1% of its peak amid commercialization delays and rising interest rates.

TuSimple expects its stock to go off the market around Feb. 8, and will deregister with the Securities and Exchange Commission as well, according to Wednesday’s announcement. The company told shareholders that their holdings will not change.