TuSimple Hldgs (NASDAQ:TSP) is trading lower Wednesday after the company announced it successfully completed the world's first fully autonomous semi-truck run on open public roads without a human in the vehicle and without human intervention.
The stock was initally surging in premarket trading before pulling back and turning negative.
The test took place on Dec. 22. The semi-truck traveled 80 miles at night from Tucson, Arizona to Phoenix, Arizona.
TuSimple said its autonomous driving system successfully navigated surface streets, traffic signals, on-ramps, off-ramps, emergency lane vehicles and highway lane changes in open traffic while naturally interacting with other motorists.
"By achieving this momentous technical milestone, we demonstrated the advanced capabilities of TuSimple's autonomous driving system and the commercial maturity of our testing process, prioritizing safety and collaboration every step of the way," said Cheng Lu, president and CEO of TuSimple.
"This test reinforces what we believe is our unique position at the forefront of autonomous trucking, delivering advanced driving technology at commercial scale," Lu added.
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TSP Price Action: TuSimple has traded as high as $79.83 and as low as $27.24 over a 52-week period.
The stock was down 5.88% at $33.27 at time of publication.
Photo: courtesy of TuSimple.