TuSimple Tech Attracts Regulatory Attention Following Autonomous Truck Accident: Report

The accident of an autonomously driven truck fitted with technology by TuSimple Holdings Inc TSP on April 6 has triggered concerns over risking safety on public roads, the Wall Street Journal reports. The company disclosed the accident to the regulators in June.

The Federal Motor Carrier Safety Administration within the Transportation Department launched a "safety compliance investigation" into TuSimple. The National Highway Traffic Safety Administration joined the DOT agency investigation into TuSimple. 

Also Read: TuSimple Paves The Way For Its Truck Technology Commercialization

The incident involved a rig with a TuSimple driver and engineer aboard, and the company has repeatedly blamed the accident on human error. 

However, the June regulatory disclosure and internal company documents disclosed fundamental problems with the company's technology as per specialists.

TuSimple had conducted less than half of the practice runs committed before launching the fully automated drive, which it did without informing its security teams. However, TuSimple assured proceeding with the driverless test "after addressing all legitimate concerns."

TuSimple's accident followed years of management overlooking what some former employees say were significant safety and security complaints. Safety drivers, meanwhile, have flagged concerns about failures of a standard safety feature. TuSimple has refuted the claims.

TuSimple said that after the accident, it modified its autonomous-driving system making it impossible to engage without a fully functional computer system. TuSimple acknowledged that safety was its top priority. It also claimed it to be a harmless accident.

TuSimple missed its 2020 and 2021 revenue targets, and its prices declined over 86% from their peak.

Meanwhile, dozens of employees in critical roles quit, and founder Xiaodi Hou amassed control over the company, reflecting his rush to get products to market.

Hou reportedly came up with ideas followed by testing on public roads, bypassing all safety standards and regulations.

Price Action: TSP shares traded lower by 2.51% at $9.71 in the premarket on the last check Monday.

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