TuSimple Holdings Inc.
|Company Name||TuSimple Holdings Inc.|
On August 1, 2022, The Wall Street Journal published an article alleging, among other things, that, an accident in which one of TuSimple’s autonomously driven truck suddenly veered left, cutting across a highway and slamming into a cement barricade “underscores concerns that the autonomous-trucking company is risking safety on public roads in a rush to deliver driverless trucks to market.” While TuSimple reported that the accident was due to a person in the cab not properly rebooting the autonomous driving system before engaging it, researchers argue that “it was the autonomous-driving system that turned the wheel and that blaming the entire accident on human error is misleading.” The Federal Motor Carrier Safety Administration has launched a “safety compliance investigation” into TuSimple.
On this news, TuSimple’s stock fell as much as 10.8% during intraday trading on August 1, 2022, thereby injuring investors.
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