Benzinga | Jan 20, 2021 09:03AM EST

Werner Reports Equity Investment In TuSimple, No Terms Disclosed

Werner Enterprises (NASDAQ:WERN), a premier transportation and logistics provider, announces an equity investment in TuSimple, an autonomous trucking technology company. Through this relationship, Werner will bolster its commitment to its Werner EDGE technology initiative and continue improving the lives of its professional drivers, enhancing over-the-road safety measures and creating sustainable shipment efficiencies. This aligns with Werner's recent investments in emerging and sustainable trucking innovations, including electrification and hydrogen, telematics, and the development of a new transportation management system.

"At Werner, our professional drivers are the backbone of our organization, and they work day-in and day-out to keep America moving," says Derek Leathers, Vice Chairman, President and CEO, Werner. "Staying current with emerging technologies helps us remain focused on improving our drivers' lives, keeping them safer, providing our drivers with best-in-class equipment and helping them achieve long-term careers in the trucking industry."

TuSimple aims to scale self-operating technologies to improve safety and fuel efficiency. Through this investment, Werner demonstrates its focus on the growth and deployment of automated driving systems, the regulations required for increased safety, reduced carbon emissions and eventual industry adoption.

"Our customers are experiencing continued business transformation -- one that requires immediate fulfillment, industry leading service and safety and a greater desire for solutions that further their business and the sustainability of our planet," Leathers adds. "When we launched Werner EDGE last May, we promised to do our part to advance the industry. Moreover, we announced new sustainability measures and initiatives last year to demonstrate our commitment to becoming an environmental leader. Emphasis in these areas, as well as our continued dedication to driver training and career advancement, makes this an important milestone in Werner's journey."

"We are excited to be working closely with Werner Enterprises in bringing our transformational technology to market safely and reliably," says Cheng Lu, CEO, TuSimple. "Our collaboration with Werner allows our teams to work hand-in-hand to ensure we meet the needs of our customers."

"Technology continues to play a significant role in how freight is transported," says Daragh Mahon, Werner's EVP and Chief Information Officer. "Through Werner EDGE, we are committed to changing all of our company's systems, as well as aligning with organizations that are driving improvements in safety, visibility, cost and productivity. Our investment in TuSimple allows us to take an active role in developing technologies that will enhance the lives of our professional drivers and customers."