Autonomous Trucks
Self-driving truck developer TuSimple Holdings says it won’t be able to file it second-quarter 2023 financial report on time to meet a deadline imposed by the Nasdaq Stock Market. The Nasdaq notified San Diego-based TuSimple in May that it faced possible delisting for failing to file its financial reports in a timely manner. After a hearing on June 22, a Nasdaq hearing panel gave the company until Sept. 30 to bring all its reports up to date, with undisclosed deadlines for each report, the company said. TuSimple said it had $871 million in cash and equivalents at the end of third-quarter 2022, down from about $1.3 billion at the end of 2021. Last December, about a year after a major expansion at its research center and truck terminal on East Old Vail Road, TuSimple said it had decided to drop its “unprofitable” truck routes and focus on providing industry partners with its self-driving truck technology.