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When TuSimple went public in 2021 it was fly high as the leading ego - push back hand truck developer in the United States . Now — after a string of national tilt and the personnel casualty of a decisive partnership with truck manufacturer Navistar — TuSimple is exiting the U.S. totally .
The publicly deal company said in aregulatory filingMonday that it ’s laying off the majority of its U.S. hands and betray asset here as it exits the country for Asia . About 150 U.S. workers , or 75 % of staff in the commonwealth , will be laid off . The stay 50 workers will wander down TuSimple ’s U.S. operation , including the sales event of assets , and assist with the company ’s sack to the Asia - Pacific realm , according to the filing .
Once the restructuring is complete , TuSimple will have bout 700 full - sentence employee globally .
With TuSimple ’s exit , few self - drive hand truck companionship remain , including Aurora and Kodiak Robotics .
A yr ago , TuSimple was explore a dissimilar business scenario . The company , already struggling with executive shakeups and a delisting warning , lost its partnership with Navistarto conscientious objector - develop autonomous trucks . About 25 % of staff were pose off curtly after and TuSimple tell it was in the physical process of sell off its Asia - focused job .
Six months after , TuSimple reversed course , doubling down on its operations in China and Japan while it begin exploring strategic alternatives for its U.S. business , including a sales agreement . The move was an about - nerve for TuSimple , a party that adamantly identify itself as an American company with operations abroad , despite its founding squad and early angel coming from China .
Without a emptor , TuSimple is now force to wind down its U.S. operation and sell off any assets .
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TuSimple figure it will incur one - time charges of about $ 7 million to $ 8 million in connection with the restructuring plan , with most of the cash used for breach payments , employee benefit and related monetary value . The majority of the restructuring charges will be recorded in the fourth fourth part of 2023 , the company said .
