TuSimple Statement Regarding Exploratory Process for Asia-Pacific Businesses

This process is at a preliminary stage and no assurances can be made regarding the nature of a potential transaction, if any

 TuSimple (Nasdaq: TSP), a global autonomous driving technology company, announced that its Board of Directors, with full support from its management team, intends to explore certain transactions at a subsidiary level for its Asia-Pacific-focused businesses. The Board believes that such a transaction can highlight value in the Company’s Asia-Pacific-focused businesses and enhance overall value for shareholders. This exploratory process does not currently include any plans for a divestiture or a similar transaction for any of its businesses or subsidiaries.

“TuSimple has a leading autonomous trucking technology and go-to-market position in China with opportunities to expand to other Asia-Pacific markets,” said Xiaodi Hou, Co-Founder and CEO, TuSimple. “We believe this is the right time to explore opportunities to add high quality partners at a subsidiary level and highlight the value of our Asia-Pacific-focused businesses.” 

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