TSP TuSimple Holdings Inc

SAN DIEGO, Sept. 23, 2021 /PRNewswire/ -- TuSimple (Nasdaq: TSP), a global self-driving technology company, today released the initial results of an industry-first telematics study analyzing the comparative safety performance of TuSimple's fully autonomous (SAE Level 4) trucking technology versus manually driven trucks.

Utilizing telematics data processed by Fleet Nav Systems powered by Geotab, a global leader in IoT and connected transportation, the company analyzed autonomous miles driven by TuSimple's technology and compared the data to a benchmark rate of critical driving events per 100 miles driven by humans in the same vehicle types and vehicle vocation at other trucking companies.

The telematics data measured industry standard critical driving events, such as harsh acceleration¹, braking² and cornering³, which can be considered leading indicators for unsafe driving that can increase the risk and frequency of accidents. The data was collected in a variety of conditions, including day, night, rain, and extreme heat as well as on highways and surface streets.

The initial results from a 10-week sample analyzing 80,000 miles demonstrate a significant reduction in industry standard harsh driving events by TuSimple's autonomous driving technology relative to benchmark rates and human-operated driving.

Study highlights include:

"By leveraging Geotab's rich aggregated telematics datasets, we were able to provide real world insights for a variety of driving scenarios to make a fair comparison between TuSimple's autonomous driving safety performance and human drivers operating under the same conditions," said Joy Bailer, Chief Engineer at Fleet Nav Systems. "Being able to provide reliable data in this type of study is vital to better understanding the significance of self-driving trucking technology."

By gathering real-time insights, the data suggests that TuSimple's autonomous technology has lower harsh event rates when contrasted with benchmark rates and human-operated driving.

"We're incredibly excited about the initial study results and the potential for TuSimple's technology to provide a new standard for safety for the trucking industry," said Jim Mullen, Chief Administrative Officer for TuSimple. "We believe building and validating the safest and most efficient driver will save lives and truly transform our industry. Carriers rightfully cherish their multimillion-mile drivers, and TuSimple's technology is designed to provide an even higher level of safety across our fleet partners."

About TuSimple
TuSimple is a global autonomous driving technology company, headquartered in San Diego, California, with operations in Arizona, Texas, Europe, and China. Founded in 2015, TuSimple is developing a commercial-ready, fully autonomous (SAE Level 4) driving solution for long-haul heavy-duty trucks. TuSimple aims to transform the $4 trillion global truck freight industry through the company's leading AI technology, which makes it possible for trucks to see 1,000 meters away, operate nearly continuously, and consume 10% less fuel than manually driven trucks. Visit us at www.tusimple.com.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding TuSimple's business strategy and plans, the impact of autonomous trucks on the trucking industry, the expected efficiencies and savings from autonomous trucks, market opportunity and objectives of management for future operations. These forward-looking statements generally are identified by the words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast", "future", "intend," "may," "might", "opportunity", "plan," "possible", "potential," "predict," "project," "should," "strategy", "strive", "target," "will," or "would", the negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many important factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the fact that autonomous driving is an emerging technology and involves significant risks and uncertainties; TuSimple's business model is relatively new; unfavorable changes to, or TuSimple's failure to comply with, applicable government regulations, including those related to autonomous vehicles; TuSimple's ability to develop its Autonomous Freight Network and market, sell or lease purpose-built L4 autonomous semi-trucks could be harmed if TuSimple's L4 autonomous semi-trucks fail to perform as expected; TuSimple's ability to commercialize its offerings at scale; various other factors relating to TuSimple's business, operations and financial performance, including, but not limited to, the impact of the COVID-19. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption "Risk Factors" in our final prospectus dated April 14, 2021 filed with the Securities and Exchange Commission (the "SEC") on April 16, 2021 and TuSimple's other filings with the SEC. These SEC filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations.

¹ Harsh acceleration is defined as acceleration greater than 3.35 m/s² in the forward direction. In the vehicle, the driver would feel like they were pushed back into the seat and the load in the vehicle would shift to the rear.  
² Harsh braking occurs when a driver uses more force than necessary to control the vehicle. The presence of harsh braking often indicates aggressive or distracted driving that can lead to costly claims, as well as increased maintenance issues.
³ Harsh cornering is an event that exceeds certain values of Geotab's GO device's accelerometer, specifically Side to Side values (G-Force). This action increases the amount of force on the vehicle, putting top-heavy vehicles at risk of overturning.

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SOURCE TuSimple Holdings Inc.